Anatomy of a Selloff: Sudden Chain Reaction Rattles Wall Street

Anatomy of a Selloff: Sudden Chain Reaction Rattles Wall Street It took around 24 hours for Wall Street’s response to the US midterm elections to turn negative. Once it did, it set in motion a chain reaction of selling that moved considerably faster. The blue wave that swept Congress was initially met with a solid gain in American stocks, with the event risk tied to the vote out of the way and oil prices in retreat, and on expectations the Trump administration would now be reined in. But by Thursday morning, investors were reassessing the wider implications, and the Democrats’ deep skepticism of the data-center expansion on which the artificial intelligence revolution depends.