Chip stocks tumbled as Democrats called for a pause on data center expansion following a landslide victory in the midterm elections
Following the Democratic Party's victory in the midterm elections and securing control of Congress, several Democratic lawmakers and newly elected officials have called for stricter restrictions or a moratorium on the approval of artificial intelligence and data center construction. Notably, Senator Bernie Sanders took to social media to call for a nationwide moratorium on data centers. Affected by this, investors fear that the Democratic victory will have a substantive impact on data center construction, triggering a sharp sell-off in chip stocks. The iShares Semiconductor ETF plummeted by nearly 9%, NVIDIA tumbled 8%, and Advanced Micro Devices (AMD) dropped over 14%.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
24H Trending
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SK Hynix fell 6.02% from its previous close, currently trading at ₩1,312,000.
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Samsung Electronics fell 5.85% from its previous close, currently trading at ₩205,250.
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SK Hynix fell 9.31% from its previous close, currently trading at ₩1,266,000.
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SK Hynix fell 7.81% from its previous close, currently trading at ₩1,287,000.
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NVIDIA fell 3.32% from its previous close, currently trading at $199.820
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South Korea's KOSPI index fell 4% from the previous close, currently trading at 5,456.25
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