According to CoinMeta, after the Democrats won the midterms, U.S. stocks rose significantly on Wednesday. However, as investors continued to sell off technology stocks for a second consecutive trading day, the Nasdaq Composite Index tumbled 3.3% on Thursday. The S&P 500 Index fell 1.9%, and the Dow Jones Industrial Average lost 489 points, a decline of 0.9%. Despite gains in stocks such as Chevron and Johnson & Johnson, these were not enough to offset the drag from the sale of technology stocks on the Dow. Stocks related to artificial intelligence, especially those in the chip industry and data center sector, continued to fall for a second day in a row: AMD fell 12%, Micron Technology dropped 9%, SK Hynix fell 8.8%, and NVIDIA fell 5%. The Philadelphia Semiconductor Index plummeted 8%, hitting a new low since April 20. Investors are concerned that with the Democrats controlling both houses of Congress, there may be more regulation on artificial intelligence infrastructure construction across the United States. Tandem Investment Advisors Portfolio manager Jordan Watson stated that the sharp rise in the stock market and the trend of funds withdrawing from artificial intelligence stocks may be just a temporary phenomenon, but the market could face more volatility in the future.