The Philadelphia Stock Exchange Semiconductor Index fell 9.2% on Thursday, putting it on track for a roughly 12% weekly drop and a fifth straight weekly loss, while the iShares Semiconductor ETF (SOXX) fell about 11%. AMD slid 15%, Micron 13%, and Nvidia up to 7.5%, with Western Digital, CoreWeave and Nebius also sharply lower. The article links the selloff to Democrats winning majorities in both the Senate and House, amid public backlash against data center development over electricity costs and grid reliability, including Texas Governor-elect Gina Hinojosa's call for a moratorium on new data center construction. An alternative view holds that curbing data center expansion could restrain runaway AI capital expenditure, and Deutsche Bank notes that some semiconductor groups still look more attractively valued than software.
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ETFsemiconductorsdata centersDemocratic PartyelectricityNVDA
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Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/04/2026 | 200.28 |
| Change that session | -3.10% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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