AMD stock falls 11% as chip selloff accelerates after US midterms

AMD shares fell over 11% as a broader selloff in chip stocks gained momentum following the US Midterm election. The stock is down 35% from its October 6 high, erasing about $380 billion in market capitalization over the past month, according to The Kobeissi Letter.

- Ticker: AMD
- One-day move: -11%+
- Drawdown since Oct 6 high: -35%
- Market cap change over the past month: approximately -$380 billion
- Context: Broad semiconductor sector decline post-election

Implications for crypto and risk assets:
- Risk appetite: Sharp declines in high-beta tech often coincide with weaker crypto performance due to correlated risk-off flows.
- AI narrative spillover: Sentiment toward AI-related assets may soften, which can affect AI-linked crypto tokens.
- Liquidity and volatility: Equity market stress can tighten financial conditions, increasing volatility and pressure across crypto markets.