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U.S. Stock Markets Plunge by Trillions as Data Center Fears Grow (www.youtube.com)
submitted 3 days ago by to c/news@hexbear.net
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Stocks took a massive hit Thursday, amid concerns the AI boom could be losing steam, especially now that Democrats have won control of Congress and taken over in key states where data centers are under construction.

Wall Street reacted Thursday to the political shake-up in Washington, the stock market seeing its biggest decline in 19 months with the Dow diving more than 1,800 points, the tech-heavy Nasdaq losing an estimated $2.5 trillion in value in a single day, and the S&P 500, home to most people's 401(k)s, dropping more than four percent.

President Trump blamed the Democrats' victories in the Midterms for the sell-off, writing on Truth Social:

"The Stock Market suffered one of the Worst Days in History based on the results of the Election...Your 401(k)s have, therefore, dropped. Remember, it wasn't Republicans; it was Dumocrats."

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[–] 52 points 3 days ago (3 children)

Yeah, which is funny because we all know the Democrats won't actually do much of anything to them aside from a stern lecture

But I guess even that would be a bridge too far

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  • [–] 21 points 3 days ago (2 children)

    Isn't also like half the datacenters in the US threatened because of outcomes of referendums?

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  • [–] 42 points 3 days ago (1 child)

    Yeah, but that's less a Democrat thing and more a "People have threatened violence" thing

    I know that's how I got my town to drop the attempt to build a data center

    I encouraged the angriest people to threaten to destroy it and then approached the town planning board with a petition and got a referendum on banning them passed

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  • [–] 31 points 3 days ago

    I encouraged the angriest people to threaten to destroy it and then approached the town planning board with a petition and got a referendum on banning them passed

    Thank you for your service.

    But I was just trying to say that the stock prices didn't plummet because of the democrats, but because of the results of the binding referendums (even if the state wants to get around that, ithappened so widespread, that it's not going to work for all of those referendums).

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