Tema ETF Chief Investment Strategy Officer Paisley Nardini shares stock picks following a Democratic sweep in Congress on “The Claman Countdown.”
Asian stock markets plunged Friday as Wall Street’s selloff spread overseas, sending major indexes in Japan, South Korea and Taiwan tumbling.
Meanwhile, U.S. stock futures were mixed, with Nasdaq futures climbing about 1.3%, signaling a potential rebound for tech stocks after Thursday’s sharp declines. Dow futures, however, fell 0.71%.
South Korea’s benchmark KOSPI index plunged more than 8%, triggering a temporary trading halt intended to avoid further market volatility, according to Reuters.
Trading then resumed, with the index down around 7%.
Trump blames Democrats for falling stock markets after sweeping midterm victories
A screen displays stock information after the closing bell at the New York Stock Exchange (NYSE) in New York, November 4, 2026. (Reuters/Jeenah Moon/Reuters)
Japan’s tech-heavy Nikkei index fell about 6%, putting it on track for its worst day in eight months, while Taiwan’s benchmark stock index fell more than 8%, with technology and semiconductor companies facing heavy selling pressure.
The selling was particularly severe among Asian chipmakers and companies linked to the artificial intelligence boom.
South Korean tech giant Samsung Electronics fell nearly 10%, while memory chip maker SK Hynix fell 11.7%.
Taiwan Semiconductor Manufacturing Company (TSMC) fell 8.5%, while Japanese technology investor SoftBank Group fell about 11%.
STOCKS DIVE AS DEM’S MID-TERM SWEEP FEEDS AI REGULATORY CONCERNS
Japan’s benchmark Nikkei index fell about 6% on Friday, as technology and semiconductor stocks faced heavy selling pressure following Wall Street’s rout on Thursday. (Reuters/Issei Kato / Reuters)
These losses follow a sharp decline on Wall Street on Thursday, when the Dow Jones Industrial Average fell 1,833 points, or 3.44%, and the S&P 500 fell 4.36%.
The Nasdaq Composite also plunged 5.52%, entering correction territory after falling more than 10% from its October record.
Investors have been weighing the potential impact of Democrats’ blowout victories in the midterm elections, which gave the party control of both houses of Congress.
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The election results have raised concerns among some investors about increased regulation of AI companies and potential restrictions on data center development.
President Donald Trump blamed falling stock markets on Democrats’ midterm victories Thursday, warning that Americans’ retirement savings had suffered losses.
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President Donald Trump blamed Democrats’ resounding victory in the midterm elections on Thursday’s Wall Street selloff, which was followed by sharp losses in Asian stock markets. (Alex Wong/Getty Images/Getty Images)
“The stock market had one of the worst days in history due to the election results,” Trump wrote on Truth Social.
Trump also expressed confidence in the market rebound, saying the country would soon be “BIGGER AND STRONGER THAN EVER.”
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