Ben Pouladian, founder of BEP Research, analyzes the sell-off in tech stocks and concerns over artificial intelligence infrastructure under the ‘Making Money’ theme.
President Donald Trump blamed Democrats’ resounding victories in the midterm elections for Thursday’s massive stock market selloff, as Wall Street suffered its biggest losses since April 2025.
In an article on Truth Social, Trump warned that the market crash had taken a toll on Americans’ retirement savings.
“The stock market had one of the worst days in history based on election results,” Trump wrote.
“It’s so sad to watch! It took so much work to get us to a level that no one had ever seen before, and then this,” he continued. “So your 401(k) went down.”
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President Donald Trump blamed Thursday’s sharp stock market selloff on Democrats’ midterm election victories, warning that Americans’ retirement savings had taken a hit. (Reuters/Elizabeth Frantz / Reuters)
Trump lashed out at Democrats, blaming Thursday’s losses on the party’s electoral gains, which included taking control of the House and Senate.
“Remember, it wasn’t the Republicans, it was the Democrats,” he wrote. “Fear not, though, we will soon, one way or another, BIGGER AND STRONGER THAN EVER.”
US stocks plunged on Thursday, with the Dow Jones Industrial Average falling 1,833 points, or 3.44%, while the Nasdaq Composite fell 5.52%, its worst session since April 2025.
The S&P 500 also fell 4.36%, while the Nasdaq entered correction territory, closing more than 10% below its October record.
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The Dow Jones Industrial Average plunged 1,833 points, or 3.44%, on Thursday as U.S. stocks suffered steep losses following the midterm elections. (Yuki Iwamura/AFP via Getty Images / Getty Images)
The sell-off was driven in part by sharp losses in technology and artificial intelligence stocks, as investors weighed the potential impact of Democratic election victories on AI regulation and data center development.
Nvidia fell more than 9%, while the Philadelphia semiconductor index plunged more than 12%, FOX Business previously reported.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGES | 51523.06 | -1,833.06 | -3.44% |
| SP500 | S&P500 | 7353.73 | -334.89 | -4.36% |
| I:COMP | NASDAQ COMPOSITE INDEX | 24314.997303 | -1,421.52 | -5.52% |
“The obvious catalyst for this sharp decline is that markets are pricing in medium-term results,” said Jakub Rochlitz, market analyst at eToro.
The market slowdown came just a day after stocks rebounded following the midterm elections, erasing gains from the previous session.
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President Donald Trump criticized Democrats following a selloff on Wall Street that sent the Dow Jones Industrial Average tumbling more than 1,800 points Thursday. (Aaron Schwartz/Getty Images/Getty Images)
Beyond the election results, investors have also expressed concerns about the massive borrowing and spending fueling the AI boom, particularly as tech companies expand their data centers amid rising energy costs and uncertainty about future returns.
Sophia Compton and Eric Revell of FOX Business contributed to this report.
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