Dow Jones plunges over 1,800 points

NEW YORK (CBS, KYMA) – The stock market tanked Thursday amid concerns that a shift in congressional political control following the U.S. midterm elections could slow the construction of data centers that power artificial intelligence (AI) services.

Stocks sank across the board, but technology companies with a hand in the AI sector were hit especially hard.

The tech-heavy Nasdaq Composite Index tumbled 1,422 points, or 5.5%, to close at 24,315.

The broader S&P 500 dropped 335 points, or 4.6%, to end at 7,354, while the blue-chip Dow Jones Industrial Average plunged 1,833 points, or 3.4%.

Investors were reacting to the growing “headline” risks around AI, according to Wall Street analyst Adam Crisafulli of Vital Knowledge.

The rout marks a sharp reversal from Wednesday, when the Dow posted its biggest gain of the year.

Other indexes also surged after the election results eased uncertainty about who will control Washington.