Tech Stocks Split After Democratic Sweep

Technology stocks moved in opposite directions on Wednesday after Democrats won control of both chambers of the U.S. Congress in the midterm elections. Investors weighed possible tougher artificial intelligence regulation against expectations that a divided government could limit major policy changes. The Nasdaq-100 gained 1.14% to 28,500, after futures briefly fell more than 2% overnight.

Microsoft rose 6.01% to $552.32 and Alphabet gained 4.63% to $292.99, while Nvidia fell 2.19% to $202.17, Tesla dropped 3.61% to $384.10, and Intel lost 5.80% to $57.04. The article said none of those stocks had yet shown a heavy bearish trend; Nvidia was undergoing the clearest price correction while remaining bullish over the longer trend, with prices testing weak support near $200.

Bitcoin traded around $80,512, up 4.12% on the day, after an initial election-related selloff. Investors were concerned about greater scrutiny of AI data centers following Democratic victories in Texas and Georgia, where large infrastructure projects have become politically contentious, Reuters reported. The AI sector also faced questions about enormous infrastructure spending and whether those investments would generate adequate returns.

Trump Media & Technology Group, which operates Truth Social, fell 14.29% to $5.10 on Wednesday. Its decline had begun before election night: the stock had already lost approximately 55% of its value year-to-date before Tuesday's vote and nearly 90% of its market capitalization since its 2024 peak. Traders had been bearish for months, and the stock had been in a “death cross” pattern since March 2025, when its 200-day average price moved above its 50-day average.

The Nasdaq-100 remained below its October highs above 31,000. The article identified 28,000 as an immediate support zone and said a move above 29,000 would strengthen the short-term recovery. Bitcoin's rebound above $80,000 was described as another indication that risk appetite had not disappeared entirely. Wednesday's split performance pointed to selective investor exposure to AI-related stocks and the political risks around the sector.

Technology stocks moved in opposite directions on Wednesday after Democrats won control of both chambers of the U.S. Congress in the midterm elections. Investors weighed possible tougher artificial intelligence regulation against expectations that a divided government could limit major policy changes. The Nasdaq-100 gained 1.14% to 28,500, after futures briefly fell more than 2% overnight.

Microsoft rose 6.01% to $552.32 and Alphabet gained 4.63% to $292.99, while Nvidia fell 2.19% to $202.17, Tesla dropped 3.61% to $384.10, and Intel lost 5.80% to $57.04. The article said none of those stocks had yet shown a heavy bearish trend; Nvidia was undergoing the clearest price correction while remaining bullish over the longer trend, with prices testing weak support near $200.

Bitcoin traded around $80,512, up 4.12% on the day, after an initial election-related selloff. Investors were concerned about greater scrutiny of AI data centers following Democratic victories in Texas and Georgia, where large infrastructure projects have become politically contentious, Reuters reported. The AI sector also faced questions about enormous infrastructure spending and whether those investments would generate adequate returns.

Trump Media & Technology Group, which operates Truth Social, fell 14.29% to $5.10 on Wednesday. Its decline had begun before election night: the stock had already lost approximately 55% of its value year-to-date before Tuesday's vote and nearly 90% of its market capitalization since its 2024 peak. Traders had been bearish for months, and the stock had been in a “death cross” pattern since March 2025, when its 200-day average price moved above its 50-day average.

The Nasdaq-100 remained below its October highs above 31,000. The article identified 28,000 as an immediate support zone and said a move above 29,000 would strengthen the short-term recovery. Bitcoin's rebound above $80,000 was described as another indication that risk appetite had not disappeared entirely. Wednesday's split performance pointed to selective investor exposure to AI-related stocks and the political risks around the sector.