Democrats’ midterm sweep is reshaping Washington: Democrats won control of both chambers of Congress, with headlines reporting more than 250 House seats, while Senate races in Mississippi and Alaska remain unresolved. Trump named Stephen Miller to replace Susie Wiles as White House chief of staff. Incoming Democratic leaders are promising investigations into the administration and its corporate allies.
A historic tech selloff spread globally: The Nasdaq 100 fell 6%, erasing roughly $2.3 trillion, and the Philadelphia semiconductor index plunged 12% as investors reassessed AI spending and potential restrictions on data centers. Asian chip stocks followed lower; Taiwan activated market-stabilization measures. U.S. tech shares subsequently began rebounding.
October hiring substantially beat forecasts: The U.S. economy added 165,000 jobs, compared with an expected 65,000, while unemployment stood at 4.1%. The stronger report complicates the interest-rate outlook as Fed officials continue warning that inflation remains too high.
Trump is weighing renewed strikes on Iran while pursuing Ukraine diplomacy: Trump described U.S. forces as “locked and loaded” and said an Iran decision was coming soon, as Democrats discussed blocking further military action. Separately, he met a Russian envoy and claimed progress toward a Ukraine agreement; Melania Trump hosted Russian and Ukrainian officials around an agreement she helped broker. No comprehensive peace deal was announced.
Newsom moves to clear California’s death row: Gov. Gavin Newsom announced mass commutations for all 548 people sentenced to death, replacing their sentences with life without parole. The move would eliminate their execution sentences—not release them—and drew criticism from Los Angeles District Attorney Nathan Hochman.
AI infrastructure faces mounting political resistance: Bernie Sanders called for a national data-center moratorium, while a Cleanview analysis said roughly 40% of planned capacity is in states whose newly elected governors pledged construction pauses or restrictions. OpenAI nevertheless vowed to keep building. Separately, House Republicans requested a closed-door briefing from Nvidia CEO Jensen Huang over reported contacts with an alleged Chinese intelligence asset.
Tesla plans to wind down Cybertruck production: Musk said production at Tesla’s Texas factory would be wound down in mid-2027 to make room for increased Cybercab manufacturing, following weak Cybertruck sales. The announcement adds another major shift toward autonomous vehicles and robotics.
A judge halted Trump’s proposed Washington arch: A federal judge temporarily blocked work on the 250-foot triumphal arch shortly after the National Capital Planning Commission approved it. Trump also signed a proclamation seeking to preserve his redesigned Oval Office and Cabinet Room as national monuments.
Wisconsin reported an infant’s death from measles: It was the state’s first measles death since 1990, and headlines identified it as the third U.S. measles death reported this week. Nationwide cases have reportedly exceeded 5,000, underscoring the outbreak’s growing toll.
Two major sports departures dominate the headlines: LIV Golf announced plans to cease operations after five contentious years, leaving players’ return routes and creditors’ claims unresolved. Cristiano Ronaldo retired from Portugal duty after 23 years, with the Portuguese federation promising a tribute and farewell recognition.