Economy · Impact 3 Serious

SpaceX shares plunge as tech and AI stocks drop after US midterms

5 Nov 2026, 16:44 UTC · New York City, United States of America · confirmed by 2 outlets

Shares in Musk's SpaceX fell sharply as tech and AI stocks declined. The market is reacting to possible tougher scrutiny of data centre construction and the AI industry following the US midterm elections.

Location: New York City, United States of America · United States of America live map
Coordinates: 40.71°N 74.01°W
Reported: 5 Nov 2026, 16:44 UTC
Category: Economy
Impact: 3 of 5 · Serious
Situation: US economy

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SpaceX shares plunge as tech and AI stocks fall after US midterms

On Thursday, shares in SpaceX fell sharply as tech and AI stocks declined, with the market reacting to possible tougher scrutiny of data centre construction and the AI industry after the midterm elections. Earlier in the week, Democrats won both the House and the Senate, and Trump accepted the results. Markets reacted cautiously on Wednesday, with the dollar dropping to a one-month low.

On Wednesday investors moved out of AI stocks into government bonds, while oil prices rose slightly amid uncertainty over the US war with Iran.
The dollar fell to a one-month low on Wednesday, with investors citing worries that stronger AI regulation could slow growth, plus falling bond yields and expected political gridlock.
US stocks opened higher on Wednesday after Trump accepted the results.
Analysts expect implications for markets, growth, inflation and borrowing costs worldwide during a lame-duck period.

Updated 5 Nov 2026, 16:59 UTC · Written by Claude from the reports on this page and on the map. Check the linked sources for full details.

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