US midterms trigger Wall Street rout: How AI sell-off is spreading beyond Big Tech to riskier stocks

The stock-market rout, which began soon after the opening bell on the New York Stock Exchange on Thursday, worsened as the day progressed, and by the end of the day trillions of dollars were wiped out of the market value. While tech stocks suffered the most damage but was not limited to it but extended to defensive fallbacks like Walmart Inc.

While concerns over artificial intelligence (AI) valuations and the future of data-centre investments initially put pressure on chipmakers and technology companies, Thursday’s rout extended well beyond Big Tech.