US Stock Futures Slide After Democratic Election Victories

US stock futures and government bond yields declined on November 4, 2026, following commanding Democratic victories in key congressional and gubernatorial races. The Nasdaq 100 futures fell by as much as 2%, while S&P 500 futures dropped between 0.5% and 1.1%. Artificial intelligence stocks faced the heaviest liquidations as investors feared a Democratic-led Congress would increase corporate taxes, tighten AI regulations, and slow data center investments.

The Democratic Party signaled intentions to launch investigations in January into projects tied to President Donald Trump, creating risk for executives at companies including Nvidia, Apple, and Comcast. In Georgia, Ohio, and Texas, newly elected Democratic governors—including Gina Hinojosa, who defeated Greg Abbott in Texas—have called for pauses in data center development.

Investors sought safe havens in US Treasuries, pushing the 10-year yield down to 4.902% and the 2-year yield to 4.55%. While some analysts suggest the clean energy and healthcare sectors may benefit from the shift in power, overall market volatility remains driven by political uncertainty, Federal Reserve policy, and geopolitical risks, specifically potential escalations between the United States and Iran under the Trump administration.