U.S. stock futures displayed mixed results today, following a significant correction in the Nasdaq. The technology-heavy index plunged 5%, driven by a widespread wipeout in chip stocks. This downturn also saw the Dow and S&P 500 erase all gains made since the recent election.
The market sell-off is described as deep, with fears surrounding potential artificial intelligence (AI) regulation contributing to the decline. Concerns about an AI crackdown, particularly after a Democratic sweep in the midterms, have reportedly sparked a $2 trillion rout in tech stocks.
Internationally, Japan's Nikkei 225 index has officially entered a bear market, reflecting broader global economic anxieties. This is a developing story and will be updated as details emerge.
