Power Stocks Selloff Claim Clouded by SpaceX Profit Beat

A selloff in AI-linked power stocks was widely attributed to “financing fears,” but the article argues that the market signals don’t match that explanation. It notes that US Treasury yields fell after the move: the 10-year dropped to 4.84% on November 5 from 4.90%, and the 2-year slipped to 4.46% from 4.58%, which would be the opposite of what a funding scare should produce. Instead, it points to other drivers cited by outlets, including Vistra’s 13.5% drop tied to a Texas election result and a KeyBanc downgrade, and Constellation Energy and Vistra declines linked to political effects around the Democrats’ midterm sweep. SpaceX’s turnaround is also highlighted as supportive of compute demand.