US Stock Market Move | Democrats Sweep Congress: Tesla and SpaceX Face Double Blow as Stock Prices Fall
On Wednesday, Tesla (TSLA.US) fell over 4% in pre-market trading, while SpaceX (SPCX.US) dropped more than 6% pre-market.
On Wednesday, Tesla, Inc. (TSLA.US) fell more than 4% in pre-market trading, and SpaceX (SPCX.US) fell more than 6% in pre-market trading. On the news front, Democrats won a landslide victory in the U.S. midterm elections, and Musk's US$445 million donation in support of Republicans was declared a failure. Market concerns about Democrats sweeping Congress are concentrated on two main fronts: first, Democrats tend to impose stricter regulation on AI, which will affect the related businesses that Tesla, Inc. and SpaceX are pushing forward with full effort; second, resistance at the congressional level may slow down or even obstruct the two companies' potential merger process.
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