United States President Donald Trump has linked a sharp downturn in Wall Street share prices to the Democratic Party's recent victories in the midterm elections.
Writing on his Truth Social platform after trading ended, Trump claimed the market drop occurred because of the election results, according to a report by Punch.
Financial analysts, however, offered a different view of the downturn. They pointed to investor concerns over the future of artificial intelligence data center investments, as many newly elected officials have promised to slow down such developments due to public resistance. The tech-heavy Nasdaq index subsequently recorded its steepest percentage fall since April 2025.
The midterm results saw Democrats take several legislative and state executive positions previously held by Republicans. The party gained Senate seats in Maine, South Carolina, North Carolina, Iowa, Kansas, Ohio, and Texas.
In Maine, former logger Troy Jackson unseated long-serving Republican Senator Susan Collins. Kansas saw Methodist minister Adam Hamilton secure a Senate seat, becoming the first Democrat to represent the state in the upper house since 1932.
In Texas, Democrat Talarico secured a Senate seat, while Gina Hinojosa defeated incumbent Republican Governor Greg Abbott. Democrats also retained Senate seats in New Hampshire and Georgia, where Jon Ossoff defended his position. In Michigan, Abdul El-Sayed won against Republican Mike Rogers, becoming the first Muslim elected to the US Senate.
Democrats also secured significant House wins across Pennsylvania, Kentucky, Arizona, North Carolina, Wisconsin, and New Jersey. In Indiana, Democrat J.D. Ford defeated Republican Representative Victoria Spartz in an area previously won by Trump in 2024.
State governorships also shifted, with former Atlanta mayor Keisha Lance Bottoms winning the Georgia gubernatorial race to become the first Black woman governor in US history.
Republicans recorded victories in Florida, where Ashley Moody retained her Senate seat and Byron Donalds won election as the state's first Black governor after facing competitive challenges.
