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

Democrats’ sweeping midterm victory jolted Wall Street, driving volatility across industries tied to future legislation. The sharpest moves were in AI-linked shares, where investors worried a Democratic Congress could slow further data-center development. Nvidia and Lam Research were among the names that swung widely, while “hyperscalers” funding the buildout, such as Amazon, fared better. Defense companies dropped 4% to 12% after Tuesday as hopes for ending the U.S.-Iran war raised questions about demand and reshoring of weapons. Oil and refining firms also fell on expectations of lower crude and gasoline prices. Hospitals rose on possible restored government funding, while liquor companies gained on tariff-relief hopes.