Nasdaq Crash: Chip Stocks Fall Up to 11% and Drag Bitcoin Down With Them

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.The Nasdaq slid into a correction as chip and AI stocks sold off after the midterms, and Bitcoin went down with them. What triggered the rout, who lost most, and why crypto is tied to the AI trade.Symbol image, created with AIAdd as a preferred source on GoogleFollow on Google NewsThe Nasdaq slid into a correction on Thursday, more than 10% below last month's record, as investors dumped chip and AI stocks, CNBC reports. At 17:52 UTC the index stood 4.6% lower on the day after falling as much as 5%, according to Yahoo Finance. Bitcoin went with it and lost more than $5,000 from its high. What began as a tech sell-off became a crypto story within an hour. Our full piece on the Bitcoin crash covers the price levels, hedging and what you can do now. This one looks at Wall Street. Why Is the Nasdaq Crashing? AI Fears After the Midterms Investors fear that the Democratic sweep of both chambers, along with wins in key governors' races, could slow the AI and data center buildout, CNBC w...