Tesla and SpaceX fall as US stocks rally after midterm elections

The divergence is the story: two names tied to Musk's AI and infrastructure ambitions fell while the broad market celebrated a clearer political picture. That suggests idiosyncratic risk, not macro sentiment, is driving these holdings — a signal worth noting for anyone tracking how the AI trade is being priced name by name. The open question is whether the changed congressional balance actually shifts regulation and data-center approvals in ways that help or hurt these companies, or whether the selloff reflects something else entirely.