Wall Street's AI stocks plunge after Democratic midterm wins
Wall Street suffered its worst AI-driven sell-off in years after Democrats won the midterm elections, with the Nasdaq 100 posting its steepest decline since March 2020. President Donald Trump blamed the crash on Democratic victories, echoing investor fears. The Dow Jones Industrial Average plunged over 1,800 points on Thursday, while the Nasdaq Composite fell 5.52 percent. Tech stocks led losses, with Elon Musk's Tesla dropping 10 percent and SpaceX falling 9 percent. Investors worry a Democrat-controlled Congress convening in January will tighten regulation of artificial intelligence and restrict data center expansion. The market downturn extended into a second day as these concerns weighed heavily on the tech sector.