Global marketsUpdated November 6

Nasdaq posts its steepest daily drop in 19 months amid AI fears

The Nasdaq fell 5.5% on Thursday, its worst day in 19 months. The Guardian linked the selloff to investor expectations that the Democrats’ midterm win would bring tighter rules for AI and datacenters, alongside concern that the AI industry could slow. Those were fears about what might follow, not rules already in force or spending cuts already made. Susannah Streeter, Wealth Club’s chief investment strategist, warned that slower datacenter construction could weaken the spending underpinning the boom as investors questioned whether the investment would pay off.

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Coverage started November 6