Business · Markets · 4 hrs ago
US tech stocks plunge after midterm elections
US technology shares plunged the day after the midterm elections, in a sharp reversal from the previous day’s gains on the Dow Jones index.
Nvidia fell 9.3%, wiping more than $400 billion from its market value in one day.
The Nasdaq 100 closed down 6.4%, while Tesla shares fell more than 10% and SpaceX shares lost just over 9%.
The election put fresh attention on Democratic calls to restrict parts of the AI industry, including data-centre construction and advanced AI development.
South Carolina’s new senator, Annie Andrews, proposed a two-year halt to new data-centre construction, while Michigan’s incoming senator, Abdul El-Sayed, called for a complete pause in developing frontier AI models.
The proposals raised concerns about limits on an industry that investors had strongly backed, although the sources do not say what policies will be adopted.
Switzerland’s SMI fell 0.4% and closed at 14,967 points, after reaching a record high earlier that day.
US technology stocks fell sharply the day after the midterm elections.
The Nasdaq 100 closed 6.4% lower, while Nvidia fell 9.3%.
Nvidia lost more than $400 billion in market value in one day.
Tesla shares fell by more than 10%, and SpaceX shares lost slightly more than 9%, according to Watson.
The declines came amid concerns about Democratic candidates’ plans to restrict data centre construction and frontier AI development.
- Who
- US technology companies, including Nvidia and Tesla, and their investors.
- What
- Technology stocks fell sharply after the midterm elections.
- When
- The day after the midterm elections; the articles were published on November 5, 2026.
- Where
- US stock markets.
- Why
- The articles link the declines to concerns about Democratic candidates’ proposed limits on data centres and frontier AI development.
This story does not have two clearly opposing sides.
Democratic candidates won elections, according to Money.it.
US technology stocks fell sharply.
Watson and Money.it published reports on the market decline.
- Nasdaq 100
- Closed 6.4% lower
- Nvidia
- Fell 9.3%; market value dropped by more than $400 billion in one day
- Tesla
- Shares fell by more than 10%
- Data centres
- Annie Andrews proposed a two-year pause on construction
- Frontier AI
- Abdul El-Sayed called for a complete pause in development
- Switzerland’s SMI
- Fell 0.4% and closed at 14,967 points
2 sources
What people are saying
You can see that the pace of technological development is outstripping the pace of safety.