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Bitcoin Erases Election Rally as AI Stocks Crater
On Thursday, the market reversed its rally from the previous day, with the S&P 500 falling 4.36% and the Nasdaq dropping 5.52%, closing in correction. AI stocks, including the iShares Semiconductor ETF, experienced a significant drop of more than 12%, marking its worst day since March 2020. Bitcoin fell 5.4% to $75,871, reflecting the market's shift in sentiment towards AI buildout scrutiny and slower permitting.