Stocks dropped on Thursday, erasing the gains that were seen following the midterm elections. 

The Dow Jones Industrial Average fell 1,728 points, or 3.2%, CNBC reported. 

The Nasdaq Composite declined 5.2% and traded 10% below a record set last month. The S&P 500 was down 4.1%, nearing its worst day since April 2025. 

Stocks related to the artificial intelligence trade slid for the second day, as fears of Democratic anti-AI policy weighed on investors. 

The Dow climbed 1,500 points on Wednesday, which was its best day since April 2025 after the uncertainty of the elections lifted. The S&P 500 and Nasdaq also saw gains.