๐ Index Performance
Wall Street suffered a rout Thursday. The S&P 500 plunged 4.53% to 7,353.83, the Nasdaq-100 tumbled 5.52% to 24,315.00, and the Dow dropped 3.44% to 51,523.06 โ the worst single-day selloff since April 2025.
CNN Fear & Greed fell to 20, back in Extreme Fear, while the VIX spiked 69.66%.
๐ฅSector Performance
It was a broad-based bloodbath, with every sector in the red and roughly $2.5 trillion wiped off US market cap in a single session. AI and chip names bore the brunt: the Philadelphia Semiconductor Index (SOX) sank more than 12%. NVDA -9.26%, TSLA -10.77%, SNDK -22.26%, MU -17.46%, AMD -17.26%; $AppLovin Corporation(APP)$ APP bucked the trend, surging 31.04%.
๐ Key Drivers
After Democrats' midterm win, a proposed "AI super ban" sparked a market-wide panic. The bill would halt all advanced AI R&D until a federal regulator is established; violators could face forced dissolution, with individuals facing up to 20 years in prison. Fears of tighter AI compute oversight and a potential major scale-back of AI data-center buildout hammered sentiment.
#USStocks #MarketRecap #AI #Semiconductors #VIX
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