AI-related and chip stocks extended an October selloff on November 5 after midterm-election results gave Democrats control of Congress and brought several AI skeptics into power. President Donald Trump blamed Democratic victories for a claimed $3 trillion loss in U.S. stock-market value, although he provided no specific market data supporting either the amount or its causal link to the election. The Nasdaq Composite fell 5.52% to 24,315, the S&P 500 dropped 4.36% to 7,353.73 and the Dow Jones Industrial Average declined 3.44% to 51,523.06. Nvidia fell about 9.3%, while Advanced Micro Devices and Micron Technology each lost about 17%. Investors questioned the scale, cost and potential returns of AI infrastructure spending, data-center construction, electricity access and possible technology regulation. Some semiconductor shares recovered on November 6. Tom Lee called the decline excessive, while Cathie Wood said she was buying the dip. The incoming Democratic majority planned greater technology oversight and investigations into Trump-linked crypto businesses after Congress reconvenes in January.