On Thursday, AI stocks were sold off, wiping out about $2.2 trillion in market value from the S&P 500. The S&P 500 fell 3.1% to 7,449 points, on track for its worst single-day performance since April 2025. The CBOE Volatility Index rose 38.6% to 23.02. Investors sold AI stocks amid expectations that a Democratic sweep of Congress would slow data-center expansion; delays in approving Nvidia chip imports to China and Qualcomm’s weak profit outlook added to the pressure. Nvidia fell 7%, and Tesla dropped 10.2%. Investors sought safety in U.S. Treasuries and gold, while all 11 S&P 500 sectors declined.