US Stocks Plunge as Nasdaq Enters Correction Territory Amid AI Industry Concerns

U.S. equity markets experienced significant losses on Thursday, with the Nasdaq Composite Index dropping 5.5% and entering correction territory, more than 10% below its October 6 record. The S&P 500 fell 4.4%, and the Dow Jones Industrial Average plunged 1,833 points. This broad market sell-off was largely attributed to investor concerns that a shift in congressional control following the U.S. midterm elections could lead to increased scrutiny and a slowdown in the construction of data centers vital for artificial intelligence services.