Morning Minute: Bitcoin Erases Election Rally as AI Stocks Crater
On Wednesday, the market decided a Democratic Congress was good news. Stocks had their best day in three months, Bitcoin climbed back over $80,800, and Trump posted on Truth Social that the market “just hit another Record High” with 401(k)s “through the roof.” The S&P 500 fell 4.36%, its worst session since the Liberation Day tariffs in April 2025. The Nasdaq dropped 5.52% and closed in correction, more than 10% below its record from last month. The Dow shed 1,833 points.