The Nasdaq Composite ended down more than 10% from its Oct 6 record-high close, confirming a technical correction. (EPA Images pic)BENGALURU: The Nasdaq Composite ended sharply lower on Thursday, notching its deepest one-day drop in 19 months and confirming it was in a correction, as chipmakers sank on fears of tougher AI regulation after Democrats won control of the US Congress.
Democratic wins on Tuesday, including in states where opposition to new data centers has mounted, fueled concerns that tighter regulation could slow the AI infrastructure buildout that has helped lift stocks to record highs this year.
Nvidia dropped over 9%, while the Philadelphia SE Semiconductor index plunged over 12%.
