Report
Nasdaq plunges into correction territory as tech stocks tumble
The tech-heavy index closed down more than 5% Thursday, more than 11% below last month's record.
TLDR
AI-related shares led Thursday’s sell-off, with data center companies CoreWeave, TeraWulf, IREN and Hut 8 posting double-digit losses shortly before 11 a.m. ET. Investors are weighing whether tighter state restrictions could slow data center construction. Across 10 previous corrections over the past decade, the Nasdaq gained an average of 9.41% from the bottom over the following three months.
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