US stocks fall as Democrats win Congress; Tesla, Trump Media drop

cnbc.com —

US stocks fell in premarket trading Wednesday after Democrats won control of Congress in the midterm elections, with Trump Media & Technology Group dropping 11% and Tesla shares down nearly 6%. Democratic victories are expected to create hurdles for data center and AI infrastructure projects, hitting Tesla, SpaceX, and neocloud companies like CoreWeave, which fell 7%. Novo Nordisk rose 6% on strong earnings, while Duolingo surged 18% on revenue that beat estimates. Other notable movers included Amdocs plunging 37% on a revenue warning tied to its T-Mobile dispute, Datadog sinking 17% on soft guidance, and renewable energy stocks climbing on expectations of Democratic policy support. CVS Health fell 2% on plans to split into two companies.


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