Tech stocks fell sharply on Wall Street as investors worried about the future of AI data centre projects following the US midterm elections, erasing the previous day's post-election gains. Oil prices rebounded after plunging as much as 10 percent the day before on hopes of progress toward ending the US-Iran war, which also weighed on equities. The Nasdaq Composite fell more than five percent in late morning trading before pulling back, with chipmakers hit hardest: Nvidia dropped more than six percent, AMD 12 percent and Micron 11 percent. Many midterm winners have pledged to curb data centre buildouts, such as by imposing moratoriums on new projects, and analysts said investors are reacting to uncertainty over policy toward a sector favoured by the current president. European and Asian markets also closed lower, with Seoul shedding more than five percent, while the Bank of England raised its benchmark rate for the first time in more than three years as inflation remains elevated.
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NVDAdata centersQQQtech stocks
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Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/04/2026 | 200.28 |
| Change that session | -3.10% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 691.95 |
| Change that session | +0.97% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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