Overview
- Democrats won majorities in both the Senate and the House, flipping control of Congress after the midterm voting.
- The tech-heavy Nasdaq fell about 5.5 percent by Thursday, wiping out roughly $2.5 trillion in market value and contributing to steep daily losses across U.S. indexes.
- President Donald Trump blamed Democratic voters for the market decline in posts on Truth Social and said he would have delivered a landslide if he had been on the ballot.
- Reporters have described emerging turmoil inside the Trump administration, including unconfirmed reports of possible cabinet firings and resignations tied to the election outcome.
- Market participants cited fears that new Democratic oversight could slow or limit the fast-growing AI sector, a shift that could prompt congressional hearings, regulatory action, and continued market volatility.