US midterms live: Nasdaq tumbles 4% on AI regulation fears

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WASHINGTON/NEW YORK — The opposition Democratic Party has won control of the U.S. Senate and House of Representatives, according to media projections, capitalizing on widespread voter discontent over Republican President Donald Trump’s policies on inflation, tariffs, AI data centers and the Iran war. In the weeks leading up to the Nov. 3 midterm elections, forecasters overwhelmingly favored the Democrats to retake the House, while the battle to regain control of the Senate was expected to be much closer. However, only hours after polls closed, Democrats flipped Republican-held Senate seats in North Carolina, South Carolina, Ohio, Texas, Kansas and Iowa, according…

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