WS #16941
A massive sell-off has hit the technology and semiconductor sectors, with the Nasdaq 100 down 4% and individual names like SanDisk (-15%), AMD (-12%), and Micron (-10%) leading the decline. The catalyst is a dual political shock: a Democratic sweep of Congress raising fears of aggressive antitrust and regulatory action against Big Tech, and the election of Texas Governor Gina Hinojosa, who has signaled a ban on new data centers. This directly threatens the AI infrastructure buildout thesis for companies like Tesla, SpaceX, and hyperscalers, causing a rapid repricing of growth multiples.
Tech Selloff and Political Risk
A massive sell-off has hit the technology and semiconductor sectors, with the Nasdaq 100 down 4% and individual names like SanDisk (-15%), AMD (-12%), and Micron (-10%) leading the decline. The catalyst is a dual political shock: a Democratic sweep of Congress raising fears of aggressive antitrust and regulatory action against Big Tech, and the election of Texas Governor Gina Hinojosa, who has signaled a ban on new data centers. This directly threatens the AI infrastructure buildout thesis for companies like Tesla, SpaceX, and hyperscalers, causing a rapid repricing of growth multiples.