S&P 500, Nasdaq Recover From AI Rout On US Midterm Election Day — META, AAPL, AMD, SKHY In Focus

The S&P 500 and Nasdaq recovered from a selloff tied to artificial intelligence stocks on US midterm election day, with Meta, Apple, AMD and SK Hynix drawing trader attention. The rebound points to a shift in risk appetite, as investors who had sold high-multiple AI-linked names appear to be re-engaging ahead of a politically uncertain outcome. Nasdaq 100 exposure is most sensitive because its heavy weighting in megacap technology and semiconductors amplifies moves in AI sentiment, while Meta and Apple carry large index weights that can shift the broader tape. AMD, as a high-beta semiconductor name tied to AI accelerator demand, typically shows the sharpest intraday swings when AI expectations reprice. The next catalyst to watch is the initial midterm vote tally and any early read on congressional control, since a divided or unified outcome can affect expectations for tax, regulatory and tariff policy that feed directly into large-cap tech valuations.

The Nasdaq-100 (NDX) is the US large-cap tech benchmark. NDX is more sensitive to rate decisions than SPX because of longer-duration cash flows, and heavily concentrated in Tech/Comms names — mega-cap earnings season dominates price action.

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