S&P 500 drops 2.7% on Democrats's midterm win, AI concerns
Business
The S&P 500 fell 2.7% this week, its biggest drop in over a year, after the Democrats's midterm win sparked worries about new rules for AI chipmakers and data centers.
Even though stocks tried to bounce back on Friday, those gains weren't enough to erase Thursday's big losses.
Volatility spikes, Anthropic IPO at risk
Thursday saw tech stocks take their hardest hit since the pandemic, with hedge funds and trading algorithms making things even choppier.
The spike in market volatility made retail investors extra cautious.
Meanwhile, AI firm Anthropic's IPO might be postponed, reflecting how shaky and uncertain things feel in the tech world right now.