Stocks Slide as AI Shares Lead Post-Election Selloff

U.S. technology stocks came under pressure after Intel and Amazon earnings fueled concerns about computer demand and returns on AI investment; Intel fell 28.6%, and the Nasdaq-100 dropped 3.46% on Friday. After a brief rebound early in the week, U.S. stocks sold off sharply on Thursday following a post-election rally, with the Dow down 3.45%, the S&P 500 down 4.29% and the Nasdaq down 5.42%. The Nasdaq fell more than 10% below its October record, entering correction territory. Semiconductor and AI-linked stocks led losses as investors weighed high valuations, AI infrastructure spending and the possibility of tighter regulation or slower data-center construction under a newly empowered Democratic Congress. The declines spread to major technology companies, data-center operators and AI-related utilities, while many stocks outside technology had advanced earlier in the week; uncertainty about U.S.-Iran talks also weighed on oil prices.