Germany Nvidia

Nvidia CEO Jensen Huang delivers his keynote on the company's GTC event in Berlin, Germany, Wednesday, Oct. 21, 2026.

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A wipeout for AI stocks sends Wall Street reeling, and the S&P 500 tumbles more than 3%

A wipeout for AI stocks sends Wall Street reeling, and the S&P 500 tumbles more than 3%

Another wipeout for stocks tied to the buildout of AI data centers is overwhelming Wall Street and more than erasing all its gains from the day before, which was its best in three months. The S&P 500 fell 3.2% Thursday and is on track for its worst loss since President Donald Trump shook markets worldwide in 2025 with his “Liberation Day” tariffs. The Dow Jones Industrial Average dropped 1,146 points, and the Nasdaq composite tumbled 5%. Stock markets worldwide felt pressure from continued drops for AI stocks as worries rise about possible moratoriums for data centers following Democratic victories in the U.S. midterm elections.