SpaceX, Tesla fall around 4% on Democrats' big win; AI stocks mixed

Shares of SpaceX (SPCX) and Tesla fell roughly 4% in premarket trading Wednesday after Democrats won a significant victory in the midterm elections, according to CNBC. The sell-off hit two of Elon Musk's best-known holdings at the same moment, and the move arrived at the open of the session following Tuesday's Nov. 3, 2026 vote.

The headline pairing is the key detail. SPCX and Tesla dropped by a similar magnitude, which suggests traders treated the election outcome as a shared risk factor for Musk-linked names rather than a company-specific event. That reading is interpretation, not a stated cause in the source, but the matching 4% declines point in that direction.

AI-related stocks traded mixed in the same premarket window, per CNBC. The divergence matters: if the election were driving a broad risk-off tape across technology, AI names would likely have fallen together. Instead, the weakness appears concentrated in SPCX and Tesla, while AI fortunes split.

The premarket setting adds a caveat. Early moves on thin volume can fade or extend once the regular session opens, so the 4% marks are a starting reference point, not a settled verdict.