Nasdaq plunges into correction territory as Dem wins threaten data centers — and AI giants rush to stem fallout

New York Post · Taylor Herzlich · 2026-11-05 16:28 UTC

The Nasdaq plunged 5.1% Thursday, entering into correction territory, as investors and industry leaders braced for a data-center reckoning in the wake of Democrats’ midterms sweep.

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The Nasdaq plunged 5.1% Thursday, entering into correction territory, as investors and industry leaders braced for a data-center reckoning in the wake of Democrats’ midterms sweep – fearful the new Congress will slow the pace of projects and hit revenue at top AI labs.

The Dow Jones Industrial Average turned negative – falling 1,097 points, or 2.1% – after recording its best day in 18 months on Wednesday. The S&P 500 tumbled 3.2% as the Nasdaq dropped over 10% from a recent record set in October.

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