Tech stocks are suffering their biggest selloff since Covid, as investors see premature end to AI datacenter boom

It may have been Blue Tsunami on Tuesday but it was a sea of red that washed over tech stocks on Thursday, covering everything from chips and datacenter companies to software and gig economy firms, as investors panicked that the U.S. midterm election results will bring the AI boom to a premature halt, or at least, a significant slowdown. The tech-heavy Nasdaq was down more than 1,340 points, or 5.2% in midday trading, shedding more than $3 trillion in market cap, and representing its biggest daily drop since the Liberation Day tariff announcement in April 2025, according to Bloomberg data.

Source: Fortune Crypto