From high-flying AI stocks to tariff-hit alcohol companies, the midterms shook up Wall Street – Audacy

From high-flying AI stocks to tariff-hit alcohol companies, the midterms shook up Wall Street  Audacy

The overwhelming victory by the Democrats in the midterm elections shook up Wall Street this week | NewsRadio 1080 KRLD NEW YORK (AP) — The overwhelming victory by the Democrats in the midterm elections shook up Wall Street this week. The biggest tremors were felt in shares of companies tied to the boom in artificial intelligence on concerns that a Democratic Congress will put the brakes on further development of data centers. Defense and oil companies fell on expectations Democrats would push for an end to the U.S.-Iran war, which would likely lower energy prices. Meanwhile, hospital shares rose on the possibility that funding for several government programs could be restored or boosted, while liquor companies and others buffeted by tariffs rose on hopes for relief.

Here’s a look at how certain stocks and industries reacted to the result of the midterms. The frantic construction of data centers to power the AI boom has meant big profits for a wide array of companies — chip makers, power providers, cooling system producers, cloud computing companies and more. Investors hungry for a piece of those profits dove in, pushing some stocks up by double or more. But concerns grew that AI stocks got too pricey. And then the Democrats swept the midterms to take control of Congress. Nvidia, Lam Research and others