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Asian tech stocks continued their rout driven by U.S. election fears and regulatory scrutiny on AI. Wall Street experienced a global market convulsion over stretched valuations and mounting debt in the AI sector, compounded by political threats from a Democratic Congress sweep regarding restrictions on data-center buildouts.
US equities rebounded on Friday, with the Nasdaq Composite gaining 1.4 percent and the S&P 500 rising 0.71 percent. Strong jobs data fueled the recovery, though Democratic midterm victories and voter opposition to data centers via ballot measures raised concerns about political obstacles to industry growth.
Seoul's KOSPI index fell 6.02% on Friday, marking a second consecutive day of sharp declines driven by fears that a Democratic-controlled U.S. Congress may restrict AI data center construction. Major tech firms saw significant losses, with Samsung Electronics falling 6.35 percent and SK hynix plunging 10.44 percent to multi-month lows.
U.S. equities sold off sharply Thursday as investors feared AI datacenter growth would slow following midterm election results. The Nasdaq dropped over 1,340 points, shedding $2.5 trillion in market cap, while Nvidia lost $374 billion amid broad tech declines and regulatory concerns.
US stock futures rebounded Friday as dip buyers entered following a historic $2.3 trillion wipeout in AI shares. Nvidia gained approximately 4% after dropping over 9%, while AMD rose 7%. Coherent Corp shares also rebounded nearly 14% on Friday following a steep previous session selloff.
Wall Street experienced its worst single-day sell-off in years, wiping more than $3 trillion off market value. The massive plunge occurred as midterm election results settled, reflecting investor reaction to political outcomes and tariff concerns.
U.S. stock index futures were mixed on Thursday, November 5, 2026, as investors digested the Democratic sweep of Congress in the midterm elections. The Dow Jones Industrial Average futures rose 0.49%, while S&P 500 and Nasdaq futures fell 0.07% and 0.94% respectively. Treasury yields dropped to recent lows.
President Donald Trump blamed Democrats for a stock market rout on Thursday, stating investors only have themselves to blame after Republicans lost control of Congress in midterm elections. Elon Musk’s net worth dropped $33.5 billion as Democratic majorities loomed, coinciding with broader market volatility.
Charter Communications stock fell over 6% in Friday premarket trading after reporting a $6.3 billion franchise writedown and a net loss of $2.4 billion. The cable provider lost 233,000 Internet customers in the third quarter, prompting a $2 billion cost-cutting plan aimed at restoring growth through a restructured operating model for core internet services.
U.S. stock index futures rose on Thursday evening, signaling a recovery after Wall Street suffered its worst day in nearly 19 months due to AI sector concerns. Nasdaq 100 futures gained 1% following sharp declines in Asian markets, where Tokyo and Seoul indices remained significantly lower.