Marvell Technology, Inc. (NASDAQ:MRVL) stock is down 13.4% as of 2:42 p.m. ET on Thursday, Nov. 5, after Democrats' midterm victory set off a sell-off in chip and AI infrastructure stocks. The S&P 500 (SNPINDEX:^GSPC) and the Nasdaq Composite (NASDAQINDEX:^IXIC) are down 3.9% and 5.0%, respectively. Investors are fleeing anything tied to AI data centers two days after Democrats flipped both houses of the U.S. Congress and won several key governorships.
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