What Happened in the Markets Over the Past Week?
The US midterm elections brought a major political change, with Democrats winning control of both the House of Representatives and the Senate. Markets first reacted positively, but sentiment quickly changed as investors became concerned about possible new restrictions on AI companies and delays in data center projects.
On Thursday, the Nasdaq Composite fell 5.5%, while the Nasdaq 100 lost around $2.5 trillion in market value. Technology and chip stocks led the decline as investors started questioning whether the huge investments in AI will bring enough profits.
$BTC also came under pressure. After briefly moving above $80,000 following the election results, $BTC dropped below $75,000. Money leaving US spot Bitcoin ETFs and more than $1 billion in crypto liquidations added to the selling pressure.
The US midterm elections brought a major political change, with Democrats winning control of both the House of Representatives and the Senate. Markets first reacted positively, but sentiment quickly changed as investors became concerned about possible new restrictions on AI companies and delays in data center projects.
On Thursday, the Nasdaq Composite fell 5.5%, while the Nasdaq 100 lost around $2.5 trillion in market value. Technology and chip stocks led the decline as investors started questioning whether the huge investments in AI will bring enough profits.
$BTC also came under pressure. After briefly moving above $80,000 following the election results, $BTC dropped below $75,000. Money leaving US spot Bitcoin ETFs and more than $1 billion in crypto liquidations added to the selling pressure.
