# Wall Street sees biggest market cap drops ever after midterm bloodbath for GOP

- URL: https://talkfuse.com/story/wall-street-sees-biggest-market-cap-drops-ever-after-midterm-bloodbath-for-gop/
- Published: 2026-11-05T21:45:45+00:00
- Updated: 2026-11-05T22:39:55+00:00
- Original publisher: New York Post (publisher lean: Right)
- Original article: https://nypost.com/2026/11/05/business/stunning-losses-on-wall-street-as-sp-500-nasdaq-see-biggest-market-cap-drops-ever-in-wake-of-midterms/
- Topics: Business, Elections, Markets, Politics, World

## Key points

- S&P 500 and Nasdaq firms saw record market-value losses.
- The Dow fell 1,833 points, erasing its post-election rally.
- AI and data-centre stocks led the sell-off.

## Summary

US shares suffered record single-day falls in market value on Thursday, as investors reacted to the Democrats’ sweep in the midterm elections and concerns that the new Congress could slow data-centre projects. The sell-off wiped out the Dow’s post-election gains and hit major technology and AI-related companies particularly hard.

S&P 500 companies lost $2.9 trillion in value and Nasdaq-listed companies $2.5 trillion, both records, while the Dow fell 1,833 points, or 3.44%. The seven largest technology firms lost nearly $1.04 trillion combined; Nvidia alone shed $374 billion. Chipmakers, AI-computing providers and data-centre operators also fell sharply, with the semiconductor ETF down more than 12%.

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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.