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Wall Street Suffers Its Worst Day Since April 2025 on AI and Political Fears
Wall Street suffers its worst day since April 2025 on AI and political fears, with stocks falling sharply.
Key points
- U.S. stocks had their best day in months, according to the article.
- Shares of SpaceX and Tesla, companies led by Elon Musk, declined.
- The billionaire spent heavily to support Republicans, the article says.
Why it matters. Shares of Musk's SpaceX and Tesla fell even as stocks rallied, after the billionaire spent heavily to support Republicans, which may weigh on sentiment toward those companies.
U.S. stocks had their best day in months, but shares of Elon Musk's SpaceX and Tesla declined. The drop came after the billionaire spent heavily to support Republicans.
Latest updates
Wall Street Suffers Its Worst Day Since April 2025 on AI and Political Fears
The S&P 500 and the Nasdaq suffered their worst session since April 2025 on Thursday. Technology stocks and companies tied to artificial intelligence were among the heaviest losers. Investors said the sell-off reflected uncertainty about how a Democratically controlled Congress will work with President Donald Trump. NBC's Brian Cheung reported the move for TODAY. Nbcnews noted that shares of Elon Musk's SpaceX and Tesla also fell, after the billionaire spent heavily to support Republican candidates.
Nvidia and Qualcomm Lead Chip Sell-Off as Nasdaq Posts Worst Day Since April 2025
Chipmakers plummeted on Thursday, with Nvidia and Qualcomm each falling more than 9%. Nvidia's decline pushed the Nasdaq to its worst day in 19 months. Wall Street investors worried that the artificial intelligence buildout could slow after the midterm election results. Neocloud operators such as CoreWeave also tumbled for a second straight day. Qualcomm contributed to the sell-off after issuing a disappointing earnings outlook.