US markets slide after midterms as chip stocks post worst drop in over six years
Midterm election results rattled US markets, with energy stocks and oil falling and semiconductor shares suffering their worst pounding in over six years, per WSJ.
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what happened
According to The Wall Street Journal, energy stocks and oil prices fell the day after the US midterm elections, while consumer shares rallied. On Thursday the pressure intensified: memory-chip makers and data-center related stocks took heavy losses, and semiconductor shares posted their worst decline in more than six years.
Sandisk led the S&P 500's decliners, dropping 22.3% on Thursday. Lumentum fell after accepting a takeover offer that is an all-stock deal from another tech company. The Journal also reports that major investors doubt Anthropic's blockbuster IPO can proceed as planned after an AI-related selloff.
why it matters
The political uncertainty coincided with a tech selloff and the unwinding of AI-related bets, which is why markets reacted broadly. The WSJ notes that volatility may persist, so investors are weighing the risks of concentrated portfolios.
market impact
Chipmakers and data-center stocks: selloff driven by political uncertainty and unwinding of AI bets
- US energy stocks pressure down — post-election drop reflects expected policy shifts for the sector
- Semiconductor stocks pressure down — worst decline since 2019 amid the unwinding of AI-related bets
instruments
on polymarket
sources
- The 10-Point: What the Midterm Shake-Up Means for Markets and Investors — WSJ Newsletter, 6 November 2026 at 10:42 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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