Nasdaq 100 futures fell nearly 1.5%, while the S&P 500 lost about $500 billion in market value as election results pointed to a Democratic takeover of Congress. Prediction markets put the odds of a full Democratic sweep at roughly 95%. Investors fear that a Democratic Congress facing a Republican president could intensify scrutiny of AI spending and complicate debt-ceiling negotiations. Uncertainty remains greater in the Senate, where markets priced the odds of a change in control at between 70% and 88%, while the Nasdaq 100 has already entered correction territory.
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