Midterm election fallout hits AI, defense, and oil stocks while hospitals gain

Democrats' sweeping midterm victory shook Wall Street, with AI, defense, and oil stocks falling while hospitals and consumer staples gained. AI-related shares like Nvidia and Lam Research swung wildly on fears Democratic control will slow data center construction, particularly in Texas. Defense and oil companies fell on expectations Democrats will end the U.S.-Iran war, lowering energy prices. Hospital shares rose on hopes for restored Medicaid and Affordable Care Act funding. Elon Musk's Tesla and SpaceX fell 5% and 10.1% on investigation concerns, while Trump Media lost 33% of its value. Renewable energy firms saw brighter prospects, and alcohol, homebuilder, and household goods stocks gained on hopes for tariff relief and lower costs.