Democrats won control of the House, Senate, and key gubernatorial races, triggering sharp moves across the stock market.

Clean energy stocks surged on hopes that Democrats will reverse Trump administration policies. NextPower jumped 11.2%, Canadian Solar rallied 6.7%, First Solar climbed 4.6%, Nextera Energy added 4.9%, Plug Power gained 3.6%, and Sunrun ticked 1.3% higher.

Healthcare stocks rallied on optimism over a slowdown in spending cuts and potential extension of Affordable Care Act subsidies. Molina Healthcare and Centene gained 8.9% and 12.6%, respectively. HCA Healthcare soared 10.3%, Universal Health Services jumped 10.9%, Tenet Healthcare rallied 9.6%, and Elevance Health added 4.9%.

Defense stocks fell on concern that Democrats may challenge military spending. RTX slipped 2.4%, Lockheed Martin tumbled 6.9%, Northrop Grumman sank 4.5%, Howmet Aerospace fell 4.3%, and Palantir Technologies shed 2.1%. Drone stocks also dropped, with Kratos Defense falling 12.3%, AeroVironment losing 8.3%, and Red Cat falling 10.4%.

Data center and AI infrastructure stocks tumbled amid fears of potential restrictions on buildouts. CoreWeave slumped 9.9%, Nebius dropped 6.7%, Iren fell 11.2%, Comfort Systems lost 15.1%, Vistra slid 13.8%, and Micron Technology fell 7%.

Tesla and SpaceX shed 3.8% and 3.3%, respectively, after Democrats won control of Texas, where both companies are headquartered. CEO Elon Musk had spent at least $474 million backing Republican candidates.

Stocks tied to consumer relief climbed. Housing names including Pulte, D.R. Horton, and Lennar gained roughly 7.2%, 8.1%, and 7.1%. Airlines moved higher, with United Airlines rising 8%, American Airlines climbing 6.3%, Southwest Airlines jumping 6.8%, and Delta Air Lines climbing 7.2%. Cruise operators also rallied, with Carnival increasing 7.3% and Royal Caribbean and Norwegian Cruise Line adding 6.4% and 6.8%. Booking Holdings rallied 9.8%. Consumer staples including Dollar Tree, Dollar General, Walmart, and Constellation Brands also gained, rising 9.6%, 8.5%, 3.5%, and 5.3%, respectively.

Trump's social media and tech company plunged 24.5% and hit a 52-week low.