Post-Midterm Equity Crash Led by Tech
The S&P 500 is down ~4% and the Nasdaq 5-6% in a historic selloff, erasing about $3T in a day and wiping out the post-election rally. Memory and AI names are leading the drop.
What we know
An account on X reports S&P -4.1%, Nasdaq -5.4%, Dow -3.2%, while another account on X says $3T has been erased at roughly $750B per hour. Another account on X lists tech names in bear markets (SNDK -66%, ARM -64%, COIN -63%). Another account on X ties the memory collapse (MU -13%, SNDK -18%) to peaking gross margins. Another account on X notes the biggest 5-day momentum ETF sell-off since March 2020. Views split between capitulation and 'still no capitulation'.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.