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

New York Post · Taylor Herzlich · 2026-11-05 21:45 UTC

S&P 500 firms shed $2.9 trillion in market value and Nasdaq companies lost $2.5 trillion – both single-day records.

See more of our coverage in your search results.

Fears of a Democrat-led clampdown on AI slammed the markets Thursday – sparking unprecedented dollar losses just a day after a massive, post-election rally.

S&P 500 firms shed $2.9 trillion in market value and Nasdaq companies lost $2.5 trillion – both single-day records. The Nasdaq entered correction territory as investors panicked over a looming data-center reckoning in the wake of Democrats’ midterm sweep.

Read the full story at New York Post · All coverage of this story