Wall Street is plunging as Democrats win control of both the Senate and the House of Representatives, amid concerns that their congressional majorities could pave the way for tougher regulations on artificial intelligence development and data center expansion. The S&P 500 is down 3.4%, the Nasdaq Composite is down 4.6%, and the Nasdaq-100 is down around 5.2%. Technology and semiconductor stocks lead the selloff.

Wall Street is plunging as Democrats win control of both the Senate and the House of Representatives, amid concerns that their congressional majorities could pave the way for tougher regulations on artificial intelligence development and data center expansion. The S&P 500 is down 3.4%, the Nasdaq Composite is down 4.6%, and the Nasdaq-100 is down around 5.2%. Technology and semiconductor stocks lead the selloff.