Tesla, SpaceX Shares Take Early Hit as Midterm Blue Wave Unfolds

Shares of Tesla Inc. and Space Exploration Technologies Corp. declined in after-hours trading as early US midterm election results indicated a decisive Democratic victory. This shift impacted companies backed by Elon Musk. Simultaneously, Japanese equities sank following indications of Democratic gains. Market strategists had previously suggested that such an election outcome would weigh heavily on AI stocks, contributing to the broader downturn in tech shares across both the US and Japanese markets during the voting period.