Donald Trump attributed the stock market decline to Democratic midterm election victories.
The Nasdaq Composite and S&P 500 experienced significant declines on Thursday. The Dow Jones Industrial Average also saw a sharp drop as investor anxiety regarding potential Democratic restrictions on AI development weighed on technology stocks.
- Donald Trump blamed the Democratic Party's midterm election victories for a sharp plunge in the US stock market.
- The Nasdaq Composite fell 5.52 percent to close at 24,315.00.
- Many midterm winners have pledged to put the brakes on such projects
- The tech-focused Nasdaq suffered its worst session percentage-wise since April 2025
- Investor anxiety over potential Democratic restrictions on AI development weighed on technology stocks.
- US networks project the Democratic Party will reclaim control of both chambers of Congress in the 2026 midterm elections.
- The S & P 500 declined 4.36 percent to 7,353.73.
- Data centres have faced broad opposition from US voters regardless of political affiliation
- The Dow Jones Industrial Average plunged 1,833 points, or 3.44 percent, to settle at 51,523.06.
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