The Nasdaq 100 plunged 6.4%, its worst session since March 2020, wiping out $2.5 trillion in market capitalization, while the S&P 500 fell 4.4% and the Dow Jones lost 3.4%. Semiconductor stocks led the sell-off, with the Philadelphia Semiconductor Index dropping more than 12% and Nvidia falling 9.3%. The US election intensified concerns about data center construction, as several municipalities rejected or restricted projects while Democratic leaders called for a federal moratorium. Investors also feared tighter AI regulation and slower, more expensive infrastructure growth. In Asia, the Nikkei 225 lost more than 6% and the Kospi more than 8%, while Bitcoin dropped 6% and listed miners fell 15% to 20%.
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