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Stocks Tank Amid Tech Sell-Off, Reversing Post-Election Rally
Developing story first seen 4 hours ago
The new coverage adds that oil prices rose on Thursday as hopes for a deal to end the Iran war receded, while regulatory and business concerns returned after the post-election rally. The renewed uncertainty accompanied a steep technology-led sell-off that erased Wednesday’s gains and pushed markets lower.
The Dow fell 1,800 points, or about 3.4%, the S&P 500 dropped 4% and the Nasdaq fell 5.2%. Snap lost 13%, while AMC Entertainment and Imax fell 12% and 6% despite strong quarterly results; investors have also been wary of heavy AI spending without a clear path to profits.
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In short
- Oil prices rose as hopes for an Iran deal faded.
- A technology sell-off erased Wednesday’s market gains.
- The Nasdaq fell 5.2% and the Dow dropped 1,800 points.
How this story developed
- 55 minutes ago A sharp sell-off in chip and artificial intelligence shares sent US stock markets tumbling on Thursday, wiping out the previous day’s post-election gains and pushing major indexes lower.
- 1 hour ago The new coverage adds that oil prices rose on Thursday as hopes for a deal to end the Iran war receded, while regulatory and business concerns returned after the post-election rally.
Coverage · 2 sources
AI Business Elections Markets Politics Technology