# ‘The blood is in the streets’: Nasdaq plunges as US midterms rattle SpaceX and Nvidia 

- URL: https://talkfuse.com/story/the-blood-is-in-the-streets-nasdaq-plunges-as-us-midterms-rattle-spacex-and-nvidia/
- Published: 2026-11-05T16:37:45+00:00
- Updated: 2026-11-05T18:08:35+00:00
- Original publisher: City AM (publisher lean: Right)
- Original article: https://www.cityam.com/the-blood-is-in-the-streets-nasdaq-plunges-as-us-midterms-rattle-spacex-and-nvidia/
- Topics: AI, Americas, Business, Elections, Markets, Politics, Space, Technology, World

## Key points

- Nasdaq fell more than 5 per cent after the US midterms.
- AI and data centre concerns weighed on technology shares.
- Tesla and SpaceX each dropped 10 per cent.

## Summary

US markets fell sharply after midterm election results gave Democrats control of both chambers of Congress, creating a check on President Trump and raising concerns among investors about AI and data centre investment. The Nasdaq dropped more than 5 per cent, as traders moved out of technology shares amid fears of political pressure on the sector.

Nvidia and Broadcom fell 8 and 9 per cent respectively, while Tesla and SpaceX each lost 10 per cent. The Dow Jones declined 2.4 per cent and the S&P 500 fell 3.5 per cent; in London, the FTSE 100 slipped 0.4 per cent, with Polar Capital and Computacenter down 7 per cent. Elon Musk spent about $474m during the midterm cycle, making him the largest single-cycle political donor in modern US history, according to the article.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.