Why 'the tide went out' on the market

Business Insider · Dan DeFrancesco · 2026-11-06 11:45 UTC

Markets plunged after the midterms as fears over data center restrictions, AI spending, and tech profitability rattled investors across every sector.

The red wave arrived. Just not the kind anyone was hoping for.

A day after midterms delivered a blue wave that markets celebrated, things turned red. Very red.

All three major indices finished the day down big: the S&P 500 (-4.36%), the Dow Jones Industrial Average (-3.44%), and the Nasdaq Composite (-5.52%).

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