Nasdaq falls 5%, Bitcoin down nearly 6% as Democrats gain Congress, $1 billion liquidated

US stock indexes and major cryptocurrencies experienced sharp declines as Democratic candidates secured control of both chambers of Congress, raising speculation about potential regulatory tightening on artificial intelligence and related sectors. The Nasdaq Composite dropped 5.10% in intraday trading, and the S&P 500 lost 3.43%. The Dow Jones Industrial Average retreated by 2.41%. These losses come amid increased investor caution over new legislative priorities from the Democratic majority and intensifying regulatory discussions targeting the AI industry. Leading digital assets mirrored moves in equities. Bitcoin saw a decline of 5.97% to $75,695.68 based on Binance data, touching an intraday low of $75,568. Ether fell 7.29% to $2,247.74 after briefly reaching $2,236.78. Other cryptocurrencies posted similar double-digit intraday declines. Simultaneous weaknesses across US equities and crypto markets have heightened market uncertainty.

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