US stocks surge after midterms, then slump sharply
US stock indexes rose sharply on Wednesday after the midterm elections, with the Dow Jones Industrial Average up about 3 %, according to CNBC. The S&P 500 and Nasdaq each gained roughly half that amount. On Thursday the three indexes posted their steepest single-day falls since April 2025. The Nasdaq dropped 5.5 %, entering correction territory, while chipmakers led the losses: Micron Technology fell more than 17 %, Intel over 10 % and Nvidia about 9 %.
Key facts
- The Nasdaq's 5.5 % fall on Thursday placed it in correction territory.
- Micron Technology's decline exceeded 17 % in a single session on Thursday.
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Why it matters
Sharp swings in major technology shares may affect investor sentiment and market valuations.
What changed
First published from CNBC