Stock Market Dives Following Dem Midterm Wave, Staggering Losses Hit $2.9 Trillion

New York Post

Fears of a Democrat-led clampdown on AI slammed the markets Thursday – sparking unprecedented dollar losses just a day after a massive, post-election rally.

S&P 500 firms shed $2.9 trillion in market value and Nasdaq companies lost $2.5 trillion – both single-day records. The Nasdaq entered correction territory as investors panicked over a looming data-center reckoning in the wake of Democrats’ midterm sweep.

The Dow Jones Industrial Average plummeted 1,833 points, or 3.44%, to close at 51,523.06. It completely wiped out its 1,500-point post-election rally – which was its best day in 18 months– as industry leaders grew convinced the new Congress will slow the pace of projects, potentially hitting revenue at top AI labs.

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