Nasdaq-100 Futures Drop 2.3% as Democratic Wave Bets Stoke Data Center Fears
Updated
Updated · CNBC · Nov 3
Nasdaq-100 Futures Drop 2.3% as Democratic Wave Bets Stoke Data Center Fears
3 articles · Updated · CNBC · Nov 3
Summary
Nasdaq-100 futures fell 2.3%, S&P 500 futures lost 1.3% and Dow futures dropped 449 points as traders priced in a possible Democratic sweep in the U.S. midterms.
Kalshi odds for Democratic Senate control rose above 99%, while CNBC projected a Democratic House win and four Republican-held Senate seats leaned toward flipping.
AI-linked shares led the pressure because investors fear a bigger Democratic majority could bring tighter data-center restrictions; Texas Democrat Gina Hinojosa, who backs a moratorium, was leading Gov. Greg Abbott.
CoreWeave and SpaceX each fell about 6% in Robinhood trading, while Microsoft, Amazon and Nvidia slipped; AMD held a roughly 3% gain after strong earnings trimmed an earlier double-digit jump.
Treasury yields also moved lower, with the 10-year down more than 4 basis points to 4.904%, while VIX futures rose above 20 as investors braced for election uncertainty and possible contested results.