Stock market today: Nasdaq plunges 5% amid chip stock wipeout, Dow and S&P 500 erase post-election rally gains

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The Dow Jones Industrial Average ( ^DJI) tumbled 3%, or over 1,600 points. The S&P 500 ( ^GSPC) fell 4%, and the tech-heavy Nasdaq Composite ( ^IXIC) dropped 5.2%, putting the index on track to close …