U.S. President Donald Trump: The midterm elections are a major setback in U.S. history, and U.S. stocks lost $3 trillion in one day
U.S. President Donald Trump posted on Truth Social, calling the results of the November 3 midterm elections a major setback in U.S. history. He said U.S. stocks had been a rocket ship during his term, but lost $3 trillion in one day because of the election results, and said not to be afraid, adding that the United States would come back with a stronger posture.
Democrats won majority seats in both the House and the Senate in the midterm elections. On November 5, the S&P 500 fell about 4.36% in a single day, with market value evaporating by about $2.9 trillion; the Nasdaq fell even more, with chip and AI-related stocks such as Nvidia, AMD, and Micron leading declines, as the market worried that Democratic control of Congress would strengthen regulation of data centers and AI infrastructure.
Trump had previously several times directly linked market volatility to election results, and emphasized that it was not the Republicans, it was the Democrats who caused 401(k)s to fall, while insisting that he was not on the ballot. The new Congress will have committee leadership, subpoena power, and leverage in budget negotiations, but the president still retains veto power.
Source: Truth Social (posts by Donald Trump, cited by multiple English-language media outlets)
ABAB AI Insight
Historically, after midterm elections, the separation of powers often triggers a repricing in the market over policy shifts. This time, the losses were concentrated in AI and semiconductor sectors, reflecting capital’s sensitivity to the pace of data center expansion and regulatory uncertainty far more than to a simple party change. Trump directly attributed the one-day market capitalization loss to the election results, continuing his narrative path of tying macro volatility to political opponents; the actual drivers also include longstanding concerns about the sustainability of AI capital expenditures. Structurally, this shows the pricing power shifting from policy expectations to infrastructure constraints and regulatory risk, with capital reordering between short-term risk premiums and long-term technology pathways.