U.S. stocks reversed much of Wednesday’s post-election surge on Thursday as investors sold technology shares amid concern that Democratic gains in the midterms could slow artificial-intelligence investment, especially data-center construction. The Nasdaq fell 3.9%, putting it more than 10% below last month’s record and into correction territory; the S&P 500 lost 2.8%, and the Dow dropped 1,153 points, or 2.2%. The selloff spread beyond tech, dragging down Caterpillar, JPMorgan and Boeing. The CBOE volatility index climbed above 22.
AI-linked chipmakers and data-center companies led the decline. Nvidia and Broadcom fell sharply, Micron and AMD were hit even harder at points, and the semiconductor ETF dropped as much as 11%. Qualcomm slid 11% after its earnings outlook disappointed despite beating estimates. Shares of cloud-computing providers CoreWeave, Nebius and Iren also sank. Strategists warned that the retreat could deepen as investors reassess optimistic profit forecasts, and advised diversification. Other developments offered a mixed economic picture: weekly jobless claims fell to 189,000, near a multi-decade low, while productivity rose 3.6% in the third quarter and unit labor costs declined. Gold and silver advanced on a weaker dollar and lower Treasury yields, with both metals on track for their strongest weekly gains in months.
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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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