The three major U.S. stock indices all closed lower, with the Nasdaq falling 5.52%

Odaily News: The three major U.S. stock indices all closed lower today, with the S&P 500 down 4.36%, the Dow Jones Industrial Average down 3.44%, and the Nasdaq Composite down 5.52%. In pre-market trading, S&P 500 futures were flat, Dow futures fell 1%, and Nasdaq futures rose 1.2%.

Dave Wagner, head of equities at Aptus Capital Advisors, said market risk is concentrated in areas that depend on Washington maintaining a friendly stance. Brian Mulberry, chief market strategist at Zacks Investment Management, noted that concerns over declining free cash flow at hyperscale cloud service providers and delayed returns on capital expenditures intensified the selloff; he also said AI usage has exceeded available computing power, adoption rates remain stable, and demand has not weakened. Since 1970, the S&P 500 has risen an average of 14% in the six months after midterm elections. (Business Insider)