Related stocks are leading the declines in the markets, with investors concerned that Democrats’ sweeping victory could lead to more moratoriums on data centers and slow the construction and the buildout of infrastructure expansion here in the United States.
So we’re seeing right now the S&P 500 down more than 4 percent. That’s the worst it’s been since April of last year. The Dow Jones Industrial Average is down more than 3 percent, and the Nasdaq down more than 5 percent. That’s just one day after surging to a new record high on Wednesday, the first day after the election.
Initially, what we saw was investors looking for opportunities with the new Democrats in office. They were investing in things that might benefit from Democratic policies. We saw health-related fields surge on the market. We saw solar companies also gain. Of course Donald Trump was very against renewable energy. There was hope that this would lead to a turnaround in the solar industry, but AI-related companies are increasingly very much a part of these market indexes. And so we’re seeing Nvidia down, Microsoft, Apple also lower, erasing the gains from yesterday and leading to billions of dollars lost in these market indexes.
We’ve also seen a big shift in oil prices. They were down on Wednesday, back up again today. Remember, rising fuel costs tied to the war with Iran were a huge issue for many voters in this election.
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