The tech stock market took a major dive on Thursday, following a Democrat landslide during the midterms. So far, $2.8 trillion has been wiped off the board, and the dive could continue amid left-wing calls to shut down the AI industry.
A quick glance at the stock market ticker shows all of the major tech giants in the red. AI leaders — like Nvidia, Microsoft, Google, and SpaceSXI — dropped anywhere between 1%-8% in valuation across the board. The crash overshadowed the losses witnessed during COVID, marking the fastest stock market drop in U.S. history.
Pausing AI development would have significant ramifications on the US economy, cybersecurity, and American dominance, not just in AI but as a world power.
The market was already volatile leading up to the
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