A sharp reversal wiped out the post-election rally: after stocks rose Wednesday following Democrats’ capture of both chambers of Congress, major indexes plunged Thursday. The Dow fell 3.44%, the S&P 500 4.36%, and the Nasdaq 5.52%; the Nasdaq erased its entire rally in six minutes. The Dow was on track for its worst second trading day after a midterm election since records began in 1896, while the S&P faced its steepest such second-day decline in nearly a century. The sell-off also pushed the Nasdaq-100 further into correction territory and left both it and the broader Nasdaq below their 200-day moving averages.
Technology and AI-related companies bore the brunt. Semiconductor stocks lost about 10% as a group, leaving the sector more than a third below its June peak; Nvidia shed over $400 billion in market value, and chipmakers’ combined losses exceeded $1 trillion. Memory and storage companies fell especially hard, while losses spread to chip equipment, cloud computing, data-center infrastructure, and speculative favorites including Tesla, SpaceX, Robinhood, and Coinbase. Investors are reassessing what a Democratic Congress could mean for AI data-center expansion, amid earlier concerns about AI spending and the borrowing costs of heavily indebted builders. Most stocks fell, though AppLovin surged after strong results and a few defensive companies rose. The next major economic signal is Friday’s October jobs report.
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The EU’s new Return Regulation expands the grounds and duration for immigration detention, including for children, and increases deportations. Critics warn that surveillance-based alternatives and externalization measures extend coercive migration controls beyond detention centers. (statewatch.org)
Former PlayStation boss Shawn Layden says the PS6 should prioritize affordability over more processing power, arguing a $300 console would be real innovation. He says rising console prices are shutting out buyers and Sony should focus on making hardware smaller and cheaper. (gamesradar.com)
EyesRhythm is an offline desktop app that uses a webcam to track blink rate and regularity, then offers gentle reminders and practice exercises. It also tracks head movement to encourage neck breaks, while keeping video on the device. (eyesrhythm.com)
Satellite images show Iran building new facilities near the Garmdareh and Shahroud missile bases and repairing damage at at least 12 other military sites. The work follows months of US and Israeli air strikes, according to analysts who reviewed the images. (bbc.com)
Stunt Car Racer’s computer opponents use three spring-mounted wheels to follow the track and cannot fall off. Drivers share the same engine but differ in their habits and swerving frequency; the AI also adjusts its speed and position around the player. (gamesexplained.com)
GeoWorks was a graphical operating system for PC-compatible computers that competed with Microsoft Windows in the 1990s. It offered a desktop interface on relatively modest hardware but failed to gain broad adoption as Windows became dominant. (atlasobscura.com)
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