Stocks Plunge as the Dow Falls 1,833 Points and the Nasdaq Posts Its Worst Day Since April 2025, With Investors Pricing in Democratic AI and Data Center Limits, Fox Business Reports
Fox Business says the Dow closed down 3.44 percent, the S&P 500 fell 4.36 percent and the Nasdaq closed in correction territory. Nvidia lost about 9 percent. Analysts tie the sell-off to election results and data center politics.
Wall Street gave back the post-election rally and more on Thursday, Fox Business reports.
The close. Fox says the Dow Jones Industrial Average finished down 1,833.06 points, or 3.44 percent. The S&P 500 fell 4.36 percent. The Nasdaq Composite closed 5.52 percent lower, its worst day since April 2025, and ended in correction territory, at least 10 percent below its Oct. 6 record close. Fox says the drop came a day after stocks rallied on the midterm results.
The hardest hit. Fox reports Nvidia fell about 9.26 percent and the Philadelphia Semiconductor Index dropped more than 12 percent. Meta lost 3.96 percent. Amazon and Alphabet also fell. Data center operators IREN, Applied Digital and Nebius each lost more than 14 percent, and power suppliers such as GE Vernova and Constellation Energy were caught too. Tesla fell about 10.77 percent and SpaceX 9.05 percent.
The explanation. Investors weighed what Democrats' midterm wins could mean for AI regulation and data center building. eToro analyst Jakub Rochlitz said markets were "pricing in the midterm results," after the political risk premium unwound Wednesday. He said rising electricity prices made the fast build-out of power-hungry data centers a campaign issue, with some Democrats calling for limits or pauses. "The market's interpretation is that the AI infrastructure buildout will become slower and more expensive," he said.
A second view. Jed Ellerbroek of Argent Capital Management told Reuters it "feels like the capitulation phase" for data center stocks, "but I think the magnitude of the moves is outsized." Fox says analysts see the scale of the losses as a sign that sentiment is changing and could lead to more selling, starting with Asian markets Friday.
What Breitbart adds. Breitbart's morning report, which has intraday numbers, notes the Dow surged more than 1,500 points Wednesday, and says voters backed data center restrictions in 40 of 41 local measures. We covered that vote separately. It also says Texas is a particular worry, since Democrat Gina Hinojosa campaigned for a data center moratorium.
Why it matters here. Reading this as a verdict on Democratic policy is the market's guess, not a fact. The sell-off is concentrated in AI and chip stocks, and Fox's report does not say whether any Democrat has proposed a specific data center limit at the federal level.
What we could not check. We relied on Fox Business for closing figures. The Breitbart numbers are from the morning and differ from the close. We did not check them against exchange data, and the analyst comments are opinion.