Politics
Democrats sweep US Congress as Tesla and SpaceX shares slide
November 4, 2026 at 10:57 AM
Democrats have captured both chambers of Congress in Tuesday's US midterm elections; Tesla and SpaceX shares fell the following morning.
- The Associated Press declared Democrats winners of both chambers on Wednesday after they flipped Republican strongholds including Texas and Kansas.
- Tesla shares fell about 5% and SpaceX about 6.9% in pre-market trading on Wednesday.
- Musk wrote on X that "space data centers now seem like an attractive option" after the results.
- Musk spent about $450 million supporting Republican candidates during the election campaign.