One post on X wiped $3 trillion off the market, or How Wall Street panicked again 📉
The other day, the Nasdaq plunged 6%—its worst day in six years. Everything was hit, from AI giants to crypto. Let’s quickly break down what happened: a real threat or just another hysterical sell-off?
What actually happened:
1️⃣ Politics. Democrats won both chambers of Congress. The market immediately started worrying that the new people in office would smother the AI boom and data center construction with bureaucracy.
2️⃣ The spark. Newly elected Congresswoman Yasmin Ansari posted on X, proposing that “pausing the development of advanced AI” be priority No. 1.
Here’s the thing: it was just one post from a lone member of the House of Representatives. There isn’t even a bill on paper. But as always, markets only need an excuse to panic.
How assets reacted:
The chip index fell by >10%. Nvidia dropped 8%, while AMD and Micron plunged by double digits.
The fear index VIX soared more than 50% to its highest level since March.
Crypto followed suit: BTC fell below $76k, its lowest level in three months, and ETH dropped more than 5%.
#Nasdaq100Tumbles6%
#USStocksSufferSteepestRoutSince2020
#StrategySTRCResumesIssuanceAfterOver170Days
#KospiSlideTriggersCircuitBreaker
$BTC
$NVDA
$AMD
The other day, the Nasdaq plunged 6%—its worst day in six years. Everything was hit, from AI giants to crypto. Let’s quickly break down what happened: a real threat or just another hysterical sell-off?
What actually happened:
1️⃣ Politics. Democrats won both chambers of Congress. The market immediately started worrying that the new people in office would smother the AI boom and data center construction with bureaucracy.
2️⃣ The spark. Newly elected Congresswoman Yasmin Ansari posted on X, proposing that “pausing the development of advanced AI” be priority No. 1.
Here’s the thing: it was just one post from a lone member of the House of Representatives. There isn’t even a bill on paper. But as always, markets only need an excuse to panic.
How assets reacted:
The chip index fell by >10%. Nvidia dropped 8%, while AMD and Micron plunged by double digits.
The fear index VIX soared more than 50% to its highest level since March.
Crypto followed suit: BTC fell below $76k, its lowest level in three months, and ETH dropped more than 5%.
#Nasdaq100Tumbles6%
#USStocksSufferSteepestRoutSince2020
#StrategySTRCResumesIssuanceAfterOver170Days
#KospiSlideTriggersCircuitBreaker
$BTC
$NVDA
$AMD
