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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[–] 64 points 3 days ago (7 children)

don’t they sorta always do this when the (overt) fascists lose?

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

    Yeah it's a threat. "Don't regulate us, it'd be shame if we crashed the economy."

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  • [–] 20 points 3 days ago

    Chuds: “Unions are bad! Protest is bad! You’re selfishly ruining lives!”

    Also chuds: “Never mess with porky. Want to know why? If he doesn’t get his way, he will network with his fellow porks and they will destroy the economy IN PROTEST! Give in to their demands!”

    Oh, so unionization is fine as long as it’s the ruling class unionizing? And look at you speaking of the porks going on strike like it’s something they are right to do.

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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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  • [–] 33 points 3 days ago

    From Anthropic’s IPO risk statement:

    Opposition to data center development has also become more organized and coordinated across jurisdictions and our public profile may draw particular attention to projects associated with us. The loss of, or a significant disruption at, any major facility may not be readily absorbed by our remaining or future infrastructure.

    nicholson-yes

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  • [–] 31 points 3 days ago (3 children)

    It's capital disciplining the blue wave. I don't even know why since Dems love tech and all these creepy nerds started as Dem darlings, even Elon.

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  • [–] 21 points 2 days ago (1 child)

    Because these tech companies are less about profits from selling tech and more about accumulation by dispossession and they need fascism for that. Republicans seem slightly more eager in rushing to accommodate that need.

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

    A I just lost everything in my 401k

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  • [–] 29 points 3 days ago (3 children)

    The venture capital behind this shit has become so important to the "growth" of our "economy" that I think bailouts for AI companies are pretty likely. I'm not certain and that's probably at least a year out.

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

    But wouldnt the bailouts have to be endless cause ai will never be profitable? Whats the plan here?

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  • [–] 35 points 3 days ago

    Dang, even Ed Zitron was forecasting another year of hype-fueled market nonsense. elmofire

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  • [–] 25 points 3 days ago* (last edited 3 days ago)

    No actual policy. Just vibes is what gets the economy running.

    So in a sense, republicans have one argument on economy. “You see, if the politicians are wearing scary blue ties. Porky will freak out and wipe out your savings and jobs in a big temper tantrum, poor porky scares easy, okay?”

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  • [–] 37 points 3 days ago*
    [–] 22 points 3 days ago (1 child)

    I'm seeing boot.dev ads again that are explicitly attacking vibe coding, so I have a feeling we are rapidly nearing the end of whatever this little cycle is.

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  • [–] 29 points 3 days ago

    kelly Hexbear Market hexbear-shining

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    [–] 11 points 2 days ago

    Nice try, I’m not clicking a CBN video.

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  • [–] 2 points 2 days ago
    [–] [B] 5 points 3 days ago

    I found a YouTube link in your post. Here are links to the same video on alternative frontends that protect your privacy:

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