President Donald Trump blamed Democrats for a sharp downturn in the U.S. stock market on Thursday, November 5, 2026, as major indices suffered steep losses following midterm election results. The sell-off erased gains from the previous day, pushing the Nasdaq Composite into correction territory.
Stocks Plunge After Election Results
Equity markets experienced their steepest decline since April 2025 as sentiment altered following the midterm elections. The Nasdaq Composite dropped 5.52 per cent to 24,315.00, while the S&P 500 fell 4.36 per cent to 7,353.73. The Dow Jones Industrial Average shed 1,833 points, or 3.44 per cent, to settle at 51,523.06. This reversal wiped out the gains observed during the previous trading session, when investors had initially reacted positively to the prospect of a divided government.
He characterized the decline as one of the worst days in market history, emphasizing that his administration had previously worked to reach unprecedented financial levels.
The Stock Market suffered one of the Worst Days in History based on the results of the Election. Such a sad thing to watch! It took so much work to get us to a level that no one has ever seen before, and then this. Your 401(k)s have, therefore, dropped. Remember, it wasn’t Republicans, it was Dumocrats.
President Donald Trump
Tech Stocks Lead Market Decline
BEP Research founder Ben Pouladian noted that the sell-off was driven by specific concerns regarding the artificial intelligence industry. Investors are reassessing the growth outlook for AI infrastructure, particularly as technology companies expand data centers against rising energy costs and uncertainty over future returns. The Nasdaq’s market capitalization shed approximately $2 trillion during the Thursday session.
The tech-heavy Nasdaq was particularly affected, with companies such as Nvidia falling more than 9%, while Advanced Micro Devices and Micron each declined more than 17%. The Philadelphia Semiconductor Index also plunged more than 12%. The unease is linked to the election of candidates who campaigned on restricting AI development. Reports indicate that at least 38 jurisdictions have already passed restrictions or bans on data-center projects, and in Texas, incoming Democratic Governor Gina Hinojosa has advocated for a moratorium on new developments.
Democrats Retake Control in Washington
US networks projecting that Democrats will regain control of both the House of Representatives and the Senate followed the market volatility.
I JUST WASN’T ON THE BALLOT. IF I WERE, WE WOULD HAVE WON IN A LANDSLIDE!
President Donald Trump
The election outcome also impacted the President’s personal financial interests. Shares of Trump Media & Technology Group, the parent company of Truth Social, suffered a decline of more than 11% on Wednesday and continued to face pressure, hitting a record low. The company previously reported a net loss of US$ 238.1 million during the second quarter of 2026 against revenues of US$ 1.7 million. Consequently, the President’s fortune has dropped by over US$ 200 million since Election Day.
Despite the current downturn, President Trump sought to reassure his followers regarding the economic outlook, stating: Do not fear, however, we will soon, one way or the other, be BIGGER AND STRONGER THAN EVER BEFORE.
Earlier coverage: Democrats Plan to Check Trump After Midterm Wins
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