US President Donald Trump blamed Thursday’s stock market plunge on the electoral win of his Democratic Party rivals in this week’s midterm elections.
“The Stock Market crashed today because the Dumocrats had a big Tuesday so sad to see, you only have yourselves to blame!” Trump posted on his Truth Social platform after US markets closed for the day.
Analysts blamed Thursday’s stock selloff on worries that Democrats could endanger the AI data center investment boom, with the tech-heavy Nasdaq posting its worst single-session percentage drop since April 2025.
Data centers have drawn widespread opposition from US voters across party lines, and many midterm victors have vowed to slow such projects down.
Democrats flipped seats that Republicans had held for a long time, making breakthroughs in South Carolina, North Carolina, Iowa, Kansas, Ohio, Texas, and Maine.
In Maine, former logger Troy Jackson beat longtime Republican Senator Susan Collins, the seventh Senate seat Democrats took from Republicans.
In Kansas, Methodist minister Adam Hamilton became the first Democrat elected to the Senate from that reliably conservative state since 1932. Iowa had not sent a Democratic senator to Washington since 2008.
Talarico, a Texas Democrat, claimed he had beaten “Goliath” in winning a Senate seat, while Gina Hinojosa ousted the state’s Republican governor, Greg Abbott, bringing decades of Republican rule to an end.
Democrats also held on to key Senate seats of their own, among them Jon Ossoff in Georgia and an open seat in New Hampshire.
The size of the victory expanded further when Abdul El-Sayed beat former Republican lawmaker Mike Rogers in Michigan, becoming the first Muslim elected to the upper chamber of Congress.
The party’s House win brought gains across Pennsylvania, Kentucky, Arizona, North Carolina, Wisconsin, and New Jersey, including districts Trump had won comfortably in 2024.
In one closely watched bellwether, Democrat J.D. Ford unseated Republican congresswoman Victoria Spartz in Indiana, taking a district Trump had won by 17 points two years before.
Democrats also captured Georgia’s governorship, electing former Atlanta mayor Keisha Lance Bottoms as the first Black woman governor in US history.
Republicans found some consolation in Florida, where Trump-backed Byron Donalds became the state’s first Black governor and Ashley Moody held a Senate seat but only after fending off surprisingly strong Democratic challenges.
