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Wall Street ends higher after Democrats win Congress; data center stocks tumble
Election clarity lifted stocks as investors bet gridlock will limit policy changes, while data center operators fell on fears of tighter AI oversight.
- Wall Street closed sharply higher on Wednesday as Democrats' sweeping midterm election victory eased political uncertainty and boosted risk appetite across major markets.
- Democrats seized control of both the Senate and House of Representatives, scoring wins in Republican strongholds in a voter backlash against President Donald Trump.
- The SPX gained 1.6% to 7,688.62 points while The Dow Jones Industrial Average rose 3% to 53,356.12; Microsoft rose 6.7%, Amazon added 6.1%, Alphabet gained 3.2%, and Meta Platforms rose 1.4%.
- Shares of data center operators slumped as Citi Research strategist Scott Chronert noted the AI trade faces "headwinds", with HUT down 23%, IREN off 11%, Core Scientific falling 10%, and Applied Digital lower by 6.7%.
- Trump's $1.5 trillion defense budget request faces a tougher road in Congress as Northrop Grumman, RTX, and Lockheed Martin fell, while The Invesco Solar ETF climbed nearly 6%.
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Stock Market Today: Dow Jumps Nearly 1,600 Points as Major Indexes Soar After Democrats’ Decisive Win in Midterms; WTI Oil Slides 8%
Major stock indexes surged Wednesday after Democrats snagged control of Congress and won several key gubernatorial races in the midterm elections.
·New York, United States
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Wall Street ends higher after Democrats win Congress; data center stocks tumble
Wall Street closed sharply higher on Wednesday as Democrats' sweeping midterm election victory eased political uncertainty and boosted risk appetite, though data center shares fell on fears of tighter AI regulation.
·London, United Kingdom
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Coverage Details
Total News Sources45
Leaning Left7Leaning Right9Center14Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 23%
C 47%
R 30%
Factuality
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