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Posted on 11/05/2026 10:42:35 AM PST by lasereye
US stocks fell suddenly on Thursday as AI and chip stocks sold off, erasing the gains from Wednesday's post-election rally.
The Dow Jones Industrial Average (^DJI) tumbled 2.9%, or over 1,500 points. The S&P 500 (^GSPC) fell 3.8%, and the tech-heavy Nasdaq Composite (^IXIC) dropped 5.2%, putting the index on track to close in a correction.
The PHLX Semiconductor index (^SOX) dived 10% as Nvidia (NVDA), Micron (MU), and other chip names sank. Large-cap tech stocks were pacing for their worst day since the COVID-19 pandemic sell-off.
Investors continued to process the Democrats' sweeping victory on Tuesday and its implications for markets and the economy. Amid relief that election uncertainty has been removed, the stock market continues to sort out the perceived winners and losers of a regime change on Capitol Hill.
Oil prices rose amid uncertainty that President Trump would pursue a deal with Iran to end the war in the Middle East. Optimism grew overnight after Vice President JD Vance said, "The reason we lost [the midterm elections] is the war," in a post on X suggesting the party should push for a resolution to the conflict. Brent crude oil (BZ=F) prices traded around $97 per barrel, while US benchmark WTI crude (CL=F) stood at $90 per barrel.
A report from Challenger, Gray & Christmas showed layoff plans in October fell to the lowest level since 2023 as companies turned their attention to retaining existing employees, setting the scene for Friday's key employment report.
(Excerpt) Read more at finance.yahoo.com ...
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The chip stocks are getting killed because the Democrats are expected to stop datacenter construction in states they took over. Somehow Mr. Market didn't figure that out yesterday. Since AI investment has been a big driver of the economy (which has been growing at a very healthy rate) anti-datacenter policies have big implications for economic growth. They may drive the economy into recession just in time for 2028.
Democrats are bad for business.
Incoming House Democrats—led by presumptive House Oversight Committee Chairman Rep. Robert Garcia and House Judiciary Committee leader Rep. Jamie Raskin—have stated plans to investigate corporate entities, donors, and businesses with ties to the Trump administration following the party’s victory in the House.
Lawmakers have signaled broader inquiries into corporate sectors including major tech, energy, and defense contractors that received loans, grants, or awards during Trump’s term. Per ABC7 Los Angeles.
There will be AI facilities and Data Centers somewhere. Do you want them here under US control or elsewhere under Chinese control? What do these assclowns think runs their smartphones full of kittycat videos, or their laptops full of porn?
“Rep. Robert Garcia and House Judiciary Committee leader Rep. Jamie Raskin”
Two non-Americans to decide what happens to America
"Buy low, sell high."
Yesterday was "Whoopee!! Sell high!" and today those sales tanked the stocks, as expected.
So today is, "Oh goodie, Buy low."
It's not rocket surgery.
The White House can play tit-for-tat with business supporting the Donks..like big media and Hollywood.
Elections have consequences.
They're morons. Morons do moronic things.
I keep my investing separate from my politics - I’ve said before, you can look it up... the markets have ALWAYS had a winning year following midterms, regardless of who/how/etc.
I’m not a “buy the dip” robot, but there are some real bargains emerging.
NVDA - which I’ve made a mint off of, but haven’t really bought much the last year or 2 - is now trading near 12X fwd earnings.
Anybody who knows historical data looks at that says “BARGAIN”.... I’m just a random person on the internet so do your own research, but at 180-185? Heck yeah - I’m buying more of that.
Garcia is awful.
He was awful for Long Beach and now this upstart thinks he can take on America. Sadly, he’ll get a lot of followers.
Trump hatred rules the day.
“Democrats are bad for business.”
And having a real business person as POTUS has been great for business. Tens of trillions of direct foreign investment in factories in the USA, cutting a hundred thousand pages of job-killing regs, killing ridiculous “green” energy energy projects, getting rid of illegals undercutting Americans workers, stopping the rush of freeloading illegals at the southern border, big push for fossil fuel exploration and recovery, Venezuelan oil on the market, strong bilateral trade negotiations using the tariffs lever.
The list of successes is huge. Trump & Co tried to get the word of these accomplishments out, but was fighting Fake News all the way. Instead, one stinking word was used to smear all the good Trump & Co have done — “affordability.” It’s ironic because so many things cost so much more under Biden.
I just cannot fathom the stupidity
Big (and medium sized) oil company stock was down yesterday, and again today. Billionaires shot themselves in the foot this week. Unfortunately, the rest of us are collateral damage.
The stock market yesterday: “Hooray! The Republicans lost.”
The stock market today: “Oh, crap! The Democrats won.”
The vast majority of our datacenters were built well before the AI models like ChatGPT were created. There would be no internet without datacenters.
Side note: Brazil’s stock market has settled to about a 20% falloff from where it had been before their election.
Ask 50% of FR. I swear, at least 50% of the people here on FR are against data centers.
All it means is that it doesn't matter who is in our government, those in control of the economy and the deep state still win.
And, we in the flyover country will still pay for it all.
Check out Micron and AMD. Both got hit hard today. I was up over 150% the past 18 moths on just those 2.
I will be putting in a buy order tomorrow morning.
Might as well face it, the kids coming up actually think socialism and Communism is good. Throw in the hysterical female voters and you got a bad time to come.
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