Trump Blames Democrats for $3 Trillion S&P 500 Drop After Midterms

President Donald Trump blamed Democrats for a selloff that erased about $3 trillion from the S&P 500 after Democrats won control of Congress in the midterms. Trump wrote on Truth Social that the losses were not the fault of Republicans and urged Americans not to fear. Technology and semiconductor shares led the decline. The State Street technology ETF fell 8%, the VanEck Semiconductor ETF lost 11.21% and Nvidia dropped 9.26%.