Futures tied to the S&P 500<\/a> traded 0.6% lower, while Nasdaq-100 futures<\/a> shed 0.6%. Futures tied to the Dow Jones Industrial Average<\/a> were down 161 points, or 0.7%. Futures were off their worst levels of the session.<\/p>\n The Democratic Party is also now projected to win both chambers of Congress, according to The Associated Press. The AP also projected that Texas Democratic governor candidate Gina Hinojosa is the winner over Republican incumbent Greg Abbott. Hinojosa has pledged a moratorium on data centers in the key tech hub.<\/p>\n Democrats securing a sizable majority in the House and Senate \u2014 the so-called blue wave scenario \u2014 would pressure the market<\/a> and especially stocks related to the artificial intelligence buildout, according to some on Wall Street. Investors fear a big Democratic win could mean more restrictions on data centers nationwide. AI-linked stocks have already pulled back in recent weeks on concern about a slowing pace in data-center spending.<\/p>\n Big Tech shares Microsoft<\/a>, Amazon<\/a> and Nvidia<\/a> were all trading lower in overnight trading on Robinhood. High-risk data center play CoreWeave<\/a> was down 4% in Robinhood overnight trading, while Elon Musk’s SpaceX<\/a> was off by 5% on Robinhood.<\/p>\n Equities “trended lower as it’s looked more likely that Democrats are going to pick up the House and most likely the Senate,” said Anthony Saglimbene, chief market strategist at Ameriprise Financial, Tuesday evening as futures were pulling back.<\/p>\n He added: “If you get some governorships that are Democratic, what does that mean for the data center buildout, which has already seen a lot of skepticism over the last couple weeks in terms of the hyperscaler capex spending?”<\/p>\n Stock Chart IconStock chart icon S&P 500 futures, intraday<\/p>\n AMD<\/a> shares initially surged double digits in post-market action after the company, a key player in the AI trade, reported third-quarter earnings and revenue<\/a> that blew past analyst expectations. The stock was last 5% higher on Robinhood as stock market futures traded lower.<\/p>\n On the overall market, investors believe a blue wave would also be a headwind as it likely rules out any more business-friendly policies like tax breaks and possibly increases scrutiny on industries like banking. <\/p>\n Renewable shares like solar stocks traded higher in the post market on speculation a Democratic majority in Congress would halt policies by President Donald Trump<\/a> taken against the industry. The Invesco Solar ETF<\/a> was up 3% in Robinhood trading.<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
<\/p>\n