Nearly $2tn shaved off Nasdaq value as worries of curbs to AI datacenters ripple across bourses

The Nasdaq share index had its worst day in 19 months after slumping 5.5% on Thursday amid growing signs that the artificial intelligence industry will face tougher regulation because of the midterm election results.

As Wall Street sustained widespread losses, the Nasdaq composite tumbled into “correction territory” – more than 10% below its recent record high – with more than $2tn shaved off its value by the end of trading Thursday. The tech-heavy index had its biggest one-day fall since Donald Trump announced his “liberation day” tariffs on US trading partners in April 2025.

Polling done for the Guardian shows plummeting support from a former key constituency of Donald Trump’s base

• Q&A: Ask your questions about Democrats’ win in the midterms

Polling conducted by the Harris Poll for the Guardian before the election shows just how angry voters were and points to one key reason Republicans lost so badly: plummeting support from rural voters, once a key constituency of Donald Trump’s base.

Over the summer, 95% of Americans indicated they believed there was an affordability crisis, particularly because of steep gas and grocery prices. By October, 61% of voters believed the country was experiencing a recession, even though technically it wasn’t.