Stocks crater as investors recoil from tech companies

The stock market tanked on Thursday amid concerns that a shift in congressional political control following the U.S. midterm elections could slow the construction of data centers that power artificial intelligence services.

Stocks sank across the board, but technology companies with a hand in the AI sector were hit especially hard. The tech-heavy Nasdaq Composite Index tumbled 1,285 points, or 5%, in early-afternoon trading, a sign investors are reacting to the growing "headline" risks around AI, according to Wall Street analyst Adam Crisafulli of Vital Knowledge.