🚨 Tech just had its WORST day since COVID. 🇺🇸 The AI crackdown fears behind today’s $3.5 TRILLION selloff face two hurdles: January and Trump’s veto. US stocks lost over $3,500,000,000,000 today, as the Nasdaq 100 posted its worst day since March 2020. Chipmakers sank on fears of tougher AI regulation after the Democrats’ sweep of Congress, per Reuters. What fell today: Nasdaq 100: −6.4% S&P 500: −4.4% Dow: −3.4% Chip index: −12.3% MU: −17.5% AMD: −17.3% ARM: −13.1% NVDA: −9.3% ETH: −7.5% BTC: −5.5% The crypto market lost nearly $200 BILLION, with over $1 BILLION in liquidations. All 3 Trump family coins hit record lows, and the VIX fear gauge jumped 63%. But Democrats’ AI plans can’t move yet: - Democrats don’t take control of Congress until January 3, when new members are sworn in. - Even then, Trump can veto any bill they pass. - Overriding a veto takes two-thirds of both the House and Senate, far more than the majorities Democrats won. AI fears weren’t the only pressure: Fed officials also hinted at more rate hikes, per Reuters.