Nasdaq 100 falls 6.4% in 5 days… ING pushes to sell data center loans

The Nasdaq 100 fell 6.4% on the 5th, its largest single-day drop since 2020, erasing roughly $2.3 trillion in market capitalization as selling concentrated in AI and semiconductor stocks. Wall Street desks had expected post-election cash to flow back into equities and extend the rally, but selling pressure materialized instead. The report adds warnings of fund reductions tied to losses and news that ING is moving to sell data center loans. Investors are weighing whether Democrats' midterm gains and local opposition to data center expansion could delay AI facility construction.