Wall Street opened on mixed ground this Thursday, with its flagship index, the Dow Jones Industrial Average, adding 0.16%. Meanwhile, investors pulled back from artificial intelligence (AI) stocks following the Democratic victory in the midterm elections, reflecting expectations of stricter tech sector regulation.
At the opening bell on the New York trading floor:
- Dow Jones Industrial Average: Gained 87 points (+0.16%), reaching 53,443.
- S&P 500: Dropped 0.89%, falling to 7,620 points.
- Nasdaq Composite (Tech): Slipped 1.94%, landing at 25,236 units.
The New York Stock Exchange initiated the trading session with notable portfolio rotations after the Democratic Party secured majorities in both the Senate and the House of Representatives during the U.S. midterm elections.
The legislative shift is expected to complicate economic policy and infrastructure funding during the final two years of President Donald Trump’s term—particularly regarding federal AI investments, which the administration had prioritized to maintain a competitive lead over China.
Rebuffed by regulatory concerns, major semiconductor and hardware stocks experienced sharp morning declines:
- AMD: Fell 9.80%
- Marvell Technology: Dropped 7.55%
- Micron Technology: Declined 7.43%
- Intel: Slipped 5.91%
Commodities and Treasury Yields Reaction
Concurrently, West Texas Intermediate (WTI) crude oil rose 1.41% to $89.36 per barrel, snapping a previous losing streak following the election results. December WTI futures contracts gained $1.24 relative to the previous session’s close.
Across other markets:
- Gold: Appreciated by 0.80%, reaching $4,105 per ounce.
- Silver: Devalued by 0.47%, settling at $52.03 per ounce.
- 10-Year U.S. Treasury Note: The yield stood at 4.88%.
