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Tech stocks plunge on fears of data center slowdown after Democratic midterm wins, but execs remain optimistic.

06 Nov 2026, 20:27 WIB
CNBC
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Neutral
Tech stocks plunge on fears of data center slowdown after Democratic midterm wins, but execs remain optimistic.

Following a Democratic sweep in the midterm elections, fears of a slowdown in data center construction triggered a sharp sell-off in tech stocks, with major indexes experiencing their worst day since April 2025. Despite the initial market panic, executives from leading tech companies like Arm, OpenAI, Qualcomm, and Box expressed confidence that the data center build-out will continue, emphasizing ongoing demand and the importance of investing in infrastructure. They also highlighted that their businesses have strengths beyond data centers and that community concerns will be addressed. The market partially recovered the next day, reflecting cautious optimism amid regulatory uncertainties.

Following the midterm election sell-off, Qualcomm's stock on Pluang shows resilience with a 5.29% gain as of Nov 07, 2026 01:41 WIB. The stock price stands at USD 165.04, reflecting investor interest despite broader tech sector volatility. Trading volume remains active at nearly 40 million shares, indicating sustained market engagement.

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