U.S. stocks suffered a severe rout: the Dow Jones Industrial Average dropped 3.44%, and the Nasdaq plummeted 5.52%, marking its largest single-day decline in over a year. Hit by disappointing earnings from two major chip designers and post-election concerns over restrictions on data center development, AI-related companies faced heavy selling. The S&P 500 fell 4.36%, and the Nasdaq Composite entered correction territory, registering its biggest single-day drop in a year.