Tech stocks plunge as S&P 500 falls 4.4% after Democrats' midterm wins
Photo: CBS NewsTech stocks led a steep sell-off on Wall Street on Thursday, a day after the market's best session in three months following Democrats' midterm election wins. The S&P 500 fell about 4.4%, its worst day since President Donald Trump's April 2025 'Liberation Day' tariffs, while the Dow Jones Industrial Average dropped 1,833 points, or 3.44%. The Nasdaq Composite sank 5.52% into correction territory. Chipmakers Nvidia, Broadcom and Qualcomm fell 9.3%, 10.5% and 9.5%. The losses came amid concerns about AI stocks and possible new AI regulations after Democrats were projected to take control of Congress.
Left-leaning CBS News covered only Wednesday's rally, leading with the surge after Democrats were projected to take control of Congress, and its excerpt does not mention Thursday's sell-off. Right-leaning Fox Business centers on the effect on 401(k) savings and the AI regulation concerns, quoting wealth advisor Mark J. White urging investors not to make emotional decisions. Daily Mail, also right-leaning, uses charged terms such as 'blue tsunami,' 'bloodbath' and 'carnage,' and stresses a $2.5 trillion loss and the possibility that governments could pause data center construction under Democratic Senate control. Alternative sources AP and MarketWatch report the same declines in more neutral terms; AP emphasizes AI-linked stocks and the 4.4% drop, while MarketWatch asks whether this is 'the big one' and features Wall Street reaction.
How the sides differ Left source CBS highlights Wednesday's rally; right sources stress AI regulation fears and retirement losses; alternative sources focus on the tech plunge.
Headline, comparison and summary written by AI from the articles below. AI can make mistakes, so check the original articles before relying on a detail.
CBS News leads with Wednesday's stock surge after Democrats were projected to win control of Congress, using a video segment and not covering Thursday's sell-off in its excerpt.
- APA brutal sell-off for AI stocks sends Wall Street reeling, and the S&P 500 tumbles 4.4%
- ReutersPhones 'explode' on Wall Street as 'steamroller' shows up for the AI trade
AP leads with the AI-stock sell-off and the 4.4% S&P 500 drop, while MarketWatch frames the selloff as possibly 'the big one' and features Wall Street commentary.
- Fox BusinessTrump blames Democrats for stock market plunge after sweeping midterm victories
- New York PostWall Street sees biggest market cap drops ever after midterm bloodbath for GOP
Fox Business frames the sell-off around 401(k) risk and AI regulation fears, while Daily Mail uses dramatic language and emphasizes a $2.5 trillion loss and possible data center pauses.