US srocks melt, Nasdaq tanks 5.5%

The US stocks plummeted on Thursday, erasing the sharp gains from the rally seen following the US midterm elections..Technology stocks came under deep pressure on fears of a data-center boom slowdown. Major US stock indexes stumbled. The S&P 500 lost 4.36 percent, while the tech-heavy Nasdaq plummeted 5.52 percent.The ⁠Philadelphia Semiconductor Index slumped 12.2% overnight and the Nasdaq has now shed 12% from its record high close a month ⁠ago. The Dow Jones Industrial Average shed 1,833.06 points, or 3.44%, and settled at 51,523.06, marking its one month low.

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