Wall Street's fear gauge posts its biggest jump since Liberation Day as AI stocks sell off
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The Philadelphia semiconductor index was down 9.2% as investors weighed what a Democratic Congress means for data center spending
Directly affected
- No company is named in this report.
Indirectly affected
- QQQ Invesco QQQ-9.8% 30d
Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story.
- AIQ Global X Artificial Intelligence & Technology ETF-2.2% 16d
Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story.
- SMH VanEck Semiconductor ETF-16.4% 30d
VanEck Semiconductor ETF: it holds chipmakers. Linked by “semiconductor” (semiconductors) in this story.
- GOOGL Alphabet-15.6% 30d
Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- MSFT Microsoft+11.8% 30d
Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- NVDA Nvidia-8.4% 30d
Nvidia (semiconductors and related devices): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- TSM Taiwan Semiconductor Manufacturing-9.5% 30d
Taiwan Semiconductor Manufacturing (semiconductors and related devices): chip demand, export rules and supply drive chipmakers' shares. Linked by “semiconductor” (semiconductors) in this story.
- META Meta Platforms-19.0% 30d
Meta Platforms (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| QQQ | +6.56% | +5.75% | base | after close | after close | after close | after close |
| AIQ | +6.96% | +5.95% | base | after close | after close | after close | after close |
| SMH | +17.15% | +16.15% | base | after close | after close | after close | after close |
| GOOGL | -0.96% | -0.96% | base | after close | after close | after close | after close |
| MSFT | -2.67% | -2.88% | base | after close | after close | after close | after close |
| NVDA | +12.76% | +13.75% | base | after close | after close | after close | after close |
| TSM | +15.19% | +14.85% | base | after close | after close | after close | after close |
| META | +1.33% | +2.32% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Wall Street's fear gauge posts its biggest jump since Liberation Day as AI stocks sell off Quartz
Source: Quartz
This story
| Company | When | Move | Status |
|---|---|---|---|
| AIQ | three days earlier | +5.95% | final price |
| AIQ | five days earlier | +6.96% | final price |
| GOOGL | three days earlier | -0.96% | final price |
| GOOGL | five days earlier | -0.96% | final price |
| META | three days earlier | +2.32% | final price |
| META | five days earlier | +1.33% | final price |
| MSFT | three days earlier | -2.88% | final price |
| MSFT | five days earlier | -2.67% | final price |
| NVDA | three days earlier | +13.75% | final price |
| NVDA | five days earlier | +12.76% | final price |
| QQQ | three days earlier | +5.75% | final price |
| QQQ | five days earlier | +6.56% | final price |
| SMH | three days earlier | +16.15% | final price |
| SMH | five days earlier | +17.15% | final price |
| TSM | three days earlier | +14.85% | final price |
| TSM | five days earlier | +15.19% | final price |
Congressional trades in the stocks in this story
- Rep. Pete Sessions sold Alphabet (GOOGL), worth $15,001 - $50,000 on 14 Sep 2026. That is 52 days before publication. Filed 18 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Alphabet (GOOGL) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 62 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Thomas H. Kean Jr sold Alphabet (GOOGL), worth $1,001 - $15,000 on 27 Aug 2026. That is 70 days before publication. Filed 12 Sep 2026. View the filing.
- Rep. Pete Sessions sold Microsoft (MSFT) (held by a spouse), worth $250,001 - $500,000 on 2 Oct 2026. That is 34 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Lisa McClain bought Microsoft (MSFT) (held by a spouse), worth $1,001 - $15,000 on 30 Sep 2026. That is 36 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Michael Rulli sold Microsoft (MSFT), worth $1,001 - $15,000 on 28 Sep 2026. That is 38 days before publication. Filed 2 Oct 2026. View the filing.
- Rep. Pete Sessions sold Nvidia (NVDA) (held by a spouse), worth $15,001 - $50,000 on 2 Oct 2026. That is 34 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Cleo Fields bought Nvidia (NVDA), worth $1,001 - $15,000 on 1 Oct 2026. That is 35 days before publication. Filed 22 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Nvidia (NVDA) (held by a dependent child), worth $1,001 - $15,000 on 23 Sep 2026. That is 43 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Cleo Fields bought Taiwan Semiconductor Manufacturing (TSM), worth $1,001 - $15,000 on 9 Oct 2026. That is 27 days before publication. Filed 22 Oct 2026. View the filing.
- Rep. Gilbert Cisneros bought Taiwan Semiconductor Manufacturing (TSM), worth $1,001 - $15,000 on 22 Sep 2026. That is 44 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Taiwan Semiconductor Manufacturing (TSM) (held by a spouse), worth $1,001 - $15,000 on 25 Aug 2026. That is 72 days before publication. Filed 14 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
This story
12 out of 100
“Wall Street's fear gauge posts its biggest jump since Liberation Day as AI stocks sell off” scores 12 out of 100. The score uses 1 sources.