After Democrats won a sweeping midterm victory, Wall Street rallied, with the Dow Jones Industrial Average up 1,569 points (3%), the S&P 500 up 1.6% and the Nasdaq Composite up 1.4%. Richard Branson called for campaign finance reform, while Elon Musk gave a record $474 million in political giving nationwide, including $224 million in Texas, where his preferred Republicans lost. Some investors warned the result could slow the AI boom: Brad Gerstner estimated at least 10 to 15 gigawatts of expected AI data-center capacity may not come online in 2027, and Dan Ives estimated 10% of planned U.S. data centers would no longer proceed. Others argued fewer new data centers could raise the value of existing facilities and ease spending pressure on tech giants, and Big Tech stocks added more than $750 billion in market value at one point while smaller, debt-dependent data-center operators fell sharply.
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midterm electionsDemocratic PartyWall StreetElon Muskdata centers
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Related tickers and likely impact
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 766.73 |
| Change that session | +1.64% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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