Overview
- U.S. markets swung sharply on Thursday when the Dow fell about 3.4 percent, the S&P 500 dropped about 4.4 percent, and the Nasdaq plunged about 5.5 percent, wiping out the prior post‑election gains.
- Semiconductor and AI‑hardware names were hit hardest as the Philadelphia Semiconductor Index tumbled roughly 12 percent and major chipmakers such as NVIDIA and AMD fell by double digits.
- Real‑time wealth trackers showed steep losses for top tech founders, with five prominent tech billionaires losing a combined roughly $153 billion in one day.
- The move pushed major indexes into acute volatility and marked the Nasdaq’s biggest single‑day drop since April 2025 while leaving the Dow with one of its weakest post‑midterm sessions on record.
- Market participants said they will watch company earnings guidance, data‑center spending plans and any policy signals about federal support for AI infrastructure for signs of whether this sell‑off reflects a lasting demand shift.