Stock market declines after Democrats gain in midterm elections

US stock markets fell on Wednesday after Democrats made gains in the 2026 midterm elections. Investors worried that Democratic control of Congress could limit President Trump's economic plans. Nasdaq-100 futures dropped 2%, while S&P 500 futures fell around 1%. The Dow Jones also declined by about 0.8%. Tech companies including Microsoft, Amazon, and Nvidia all traded lower. SpaceX shares fell 4.5% before markets opened, and Trump Media shares dropped more than 7%. Asian markets also went down, with Japan's Nikkei losing 3% and South Korea's KOSPI falling 1.6%. Investors were uncertain about how a Democratic Congress might change rules for technology companies, artificial intelligence, banking, and healthcare.