U.S. stock futures fell sharply overnight after Democrats won control of both the House and Senate, with Nasdaq-100 futures dropping as much as 2.4% and S&P 500 futures down 1.4%, as investors worried about tougher AI regulation and data-center spending. The losses faded quickly: by 3:13 a.m. ET, Dow futures were up 237 points, or 0.46%, while S&P 500 and Nasdaq-100 futures gained 0.15% and 0.26%. Shares of Amazon, Alphabet, Microsoft and Meta traded lower on Germany's Tradegate, and Aidan Yao of Amundi Investment Institute said the midterms were more like a referendum on AI than on Trump. Oil rose, with Brent up 0.7% to $104.36 a barrel and WTI up 0.7% to $96.72, as traders watched the Iran war. API data showed U.S. crude inventories fell 5.27 million barrels in the week ending Oct. 30, against expectations of an increase of about 880,000 barrels.
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Related tickers and likely impact
QQQ
• NeutralInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/03/2026 | 685.34 |
| Change that session | +0.62% |
SPY
• NeutralSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/03/2026 | 754.41 |
| Change that session | +0.31% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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