Why tech stocks are down today, including Nvidia, SpaceX, AMD, more

Tech stocks slid again on Thursday as investors tried to gauge how Washington’s new political balance could affect Silicon Valley and AI-related spending. After a major rally on Wednesday following the decisive Democratic win in the US midterms, markets reversed sharply on Thursday, with the Dow Jones dropping about 1,600 points (around 3%), CNBC reported. The S&P 500 and the Nasdaq also fell, with the Nasdaq down roughly 5%, the New York Times said. The sharp declines revived worries about a trading halt as the S&P 500 approached trigger levels for circuit breakers, pausing trading for 15 minutes if losses reach 7% and ending the session at 13%. Chipmakers including Nvidia and Qualcomm were hit as investors anticipated more AI regulation from Democratic lawmakers. Shares of Tesla and SpaceX fell for a second day amid potential regulatory pressure, while governors-elect in 2027 could also shape data-center projects.