Investors are reacting swiftly to political shifts that could stall the rapid momentum of ongoing AI projects and capital spending. Sandisk experienced the steepest downturn of the session, plunging 20% on Thursday. Meanwhile, several other prominent hardware and storage providers shed more than 15% of their value alongside notable pullbacks from leading chipmakers Nvidia and Intel.
Key points
Growing uncertainty following recent midterm election results is actively dampening Wall…: Growing uncertainty following recent midterm election results is actively dampening Wall Street's appetite for artificial intelligence hardware.
The widespread semiconductor selloff is pushing the Nasdaq Composite toward its worst sin…: The widespread semiconductor selloff is pushing the Nasdaq Composite toward its worst single-day drop since April 2025.
Political developments are raising serious investor concerns about potential slowdowns in…: Political developments are raising serious investor concerns about potential slowdowns in the overall artificial intelligence buildout.
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Tech Stocks
Micron, Sandisk and other AI stocks are falling hard: ‘Investors don’t like uncertainty’
Wall Street is digesting the prospect of a slower AI buildout in the wake of the midterm election results
A dramatic selloff in chip stocks is helping drive the Nasdaq Composite index toward its worst day since April 2025 as investors digest the potential for the midterm election results to curtail artificial-intelligence momentum.
Shares of Sandisk SNDK were down 20% on Thursday, while shares of Advanced Micro Devices AMD, Micron Technology MU, Western Digital Corporation WDC and Seagate Technology Holdings STX were off more than 15%. Shares of Intel INTC were down 8%, and Nvidia’s stock NVDA was down 9%.
Wall Street’s top-performing trades of 2026 are unraveling as a violent rotation shakes the U.S. The shift marks a sudden reversal for the year's most successful strategies, raising concerns that the downturn could be permanent.
The recommendations focus on domestic expansion, export recoveries, and capital expenditure cycles spanning healthcare, hospitality, automotive platforms, and heavy manufacturing. These five selections offer an estimated average upside potential of roughly 36% for the upcoming Hindu calendar year. Investors are tracking these targets as specific operational milestones and asset-light transitions drive individual company valuations.