⚡️ BREAKING: Democrat Scott Colom is projected to win Mississippi’s U.S. Senate race.

He would become the state’s first Democratic senator since 1989.

The victory would bring Democrats to eight Senate seats in the midterms—their strongest showing since 2008.

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⚡️ JUST IN: Iran’s parliamentary speaker has hit back at JD Vance after he blamed the Republicans’ defeat on the war with Iran.

“You sound like a gambler who keeps losing but refuses to quit. Why not take it up with your boss?”

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The sell-off hit chip stocks hardest. The Nasdaq dropped 3.2%, erasing $400 billion from the US market, while Nvidia ($NVDA) slid 5.6% to its lowest level since April.

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Strategy led the decline among crypto-linked investments, dropping 10%. Coinbase fell 9%, while BlackRock’s Bitcoin ETF (IBIT) slid 5.5%. The Nasdaq 100 was down 4.81%.

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Reports indicate that thousands of troops are on standby while the US and Israel weigh possible further strikes on Iran. Any operation could be short but intense, and nuclear facilities may be among the targets.

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3.8%: The S&P 500 has fallen, but remains far from the 20% drop that would halt trading for the rest of the day. As a result, Wall Street is closely monitoring the circuit breakers.

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20%: IREN and Nebius shares fell after Microsoft increased scrutiny of neocloud data center projects as it weighs new cloud deals, especially those involving higher-risk ventures.

A wiring problem at IREN’s Texas site could also delay completion by weeks or even months.

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Elon Musk’s fortune fell by $33.5 billion in a day after Democrats won the midterm elections, as investors considered whether increased scrutiny could threaten a Tesla merger.

On Thursday, SpaceX’s five-year credit default swap spread also reached a record 284.3 basis points.

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A vote on Hegseth’s impeachment could happen as early as next week, though no vote is confirmed and the outcome is still up in the air. ⚡️

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⚡️ Marco Rubio may leave the Trump administration after the US Midterms to pursue a 2028 presidential bid, The Independent reports.

He is reportedly among five Cabinet members preparing to resign. If he runs, Vice President JD Vance is expected to be his main rival.

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Trust companies and settlement banks can now handle clearinghouse settlements.

The CFTC expanded eligibility and applied the same standards to both. Clearinghouses have a new option for managing daily settlements - because one route is never quite enough.

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Is Marco Rubio about to leave his post? For now, he remains US Secretary of State, and no decision has been made about his future.

Bloomberg reports that Rubio discussed stepping down with White House officials after Republicans suffered major losses in the midterm elections. The election results may have helped prompt the talks.

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Is Marco Rubio already eyeing 2028? White House officials say he hasn’t declared it as a goal. They also dismissed reports that he plans to leave the Trump administration to run for president, calling them “completely baseless” and “fabricated.”

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⚡️ Nasdaq is heading for its steepest one-day drop in 19 months, with chipmakers leading the slide. The trigger: fears of AI regulation after Democrats won control of the US Congress. Wall Street’s chip stocks are having a decidedly rough day.

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60% of Paraguay’s adults bank with Ueno Bank. When the bank went down, millions of customers lost access to their accounts, cards and app.

The outage followed intervention by the central bank. At the same time, US stocks were falling, Paraguay’s president resigned, and USDT traded at a 15%-20% premium.

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Walleye Capital, a $17B hedge fund, is restructuring its equity business after its worst month since March 2020. The changes include leadership departures and the exit of a substantial share of its portfolio managers. The firm also plans to return some investor capital.

The timing has drawn attention to a separate attempt to sell $500M in data-center loans by an unidentified seller. Speculation has linked the seller to Walleye, though that connection remains unconfirmed. If true, it could signal that the AI sell-off is spreading beyond public equities into private credit.

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⚡️ Trump on Iran: “I’d prefer not to destroy what remains of the country, if possible. But I may have to.”

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How much further have markets fallen? Nasdaq 100 futures are down 7.1% over the past 12 hours as after-hours selling continues.

The S&P 500 has lost $5 trillion since its October 6 high.

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⚡️ What prompted Trump to speak out? After today’s stock market crash, he called it one of the market’s “worst days in history.”

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Texas could halt AI data center expansion until safeguards are in place.

Governor-elect Gina Hinojosa says lawmakers need to act first. She told CNN that data center activity should stop until protections are established.

Hinojosa is set to become Texas’s first Democratic governor since 1995.

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Did Galaxy $GLXY’s CEO just buy the dip? Novogratz picked up $9.9 million in company stock after shares fell 41%. The board also approved another $200 million for buybacks.

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