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Why Markets Plunged
Wall Street lost around $3.2 trillion in stock market value in a single day, amid fears that a sweeping Democratic victory in the midterm elections could lead to tighter oversight and restrictions on technology and artificial intelligence companies. The Nasdaq-100 fell 6.4%, and Nvidia shares dropped 9.3%, while the sell-off spread to Asian and European markets. Potential concerns include greater scrutiny of data center projects and congressional investigations into AI companies, as well as investors’ worries that the sector’s massive investments and debt will fail to deliver the expected returns.
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