US equities tumbled Thursday as investors accelerated exits from tech amid fears
data‑center construction could slow or be paused, threatening the AI capex
cycle. The Nasdaq fell 5.52%, entering technical‑correction territory; the S&P
500 dropped 4.36% and the Dow fell 3.44%, the largest single‑day declines for
all three indexes since April 2025. Vermont Senator Bernie Sanders, aligned with
Democrats, called for a nationwide pause on data‑center construction. Tim
Holland, CIO at Orion, said investors are now largely on the sidelines until
they can better assess how election outcomes would affect AI capital spending—a
cycle he says has been the primary growth driver over the past three years.
