U.S. stocks got routed on Thursday as midterm election results raised questions about the durability of the artificial intelligence boom.
Key Points
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The S&P 500 and Nasdaq Composite fell sharply on Thursday, with both indexes notching their largest single-day declines in market value on record.
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The S&P 500 just entered what has traditionally been its best six-month period of the four-year presidential cycle; history implies 19% upside by April.
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The Nasdaq Composite is now in correction territory, but the index will advance 21% over the next year if its performance matches the historical average.
