US stock futures fall as Democrats win Congress in setback for Trump
US stock futures fell sharply Wednesday after midterm election results showed Democrats won control of both the House and Senate, a major setback for President Donald Trump. Nasdaq-100 futures dropped up to 2% overnight before paring losses. Democrats secured key Senate victories in traditionally Republican states like Texas, Kansas, and South Carolina, and are projected to take the House. Investors fear stricter regulation of artificial intelligence and data centers could slow infrastructure spending, while the dollar weakened and Treasury yields fell. Trump congratulated Democrats and said he does not view the outcome as a blow to his presidency. Asian tech stocks also declined on concerns that tighter US oversight could impact semiconductor supply chains and AI demand.