How Much Big Tech Firms That Signed Trump AI Deal Lost in Stock Market Rout

Newsweek · Khaleda Rahman · 2026-11-06 10:28 UTC

The companies lost billions in market value as a sell-off swept through Wall Street after Democrats' big win in the midterms.

Several big tech firms whose leaders signed President Donald Trump’s artificial intelligence accord in September lost billions in market value on Thursday as a brutal sell-off swept through Wall Street following Democrats’ big win in Tuesday’s midterm elections.

Nasdaq Composite, which is full of AI-related and other tech stocks, fell 5.5 percent, while the S&P 500 fell 4.4 percent and the Dow Jones Industrial Average sank 1,883 points.

It came amid fears the Democratic Party’s sweeping victories on Tuesday, retaking control of both the House and Senate, could bring more scrutiny of AI companies and stall the construction of more data centers, which have faced opposition from voters on both sides of the political spectrum due to their impact on energy bills and the environment.

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