In Tokyo trading on 6 November, the Nikkei 225 fell below ¥60,000, recording its lowest level since 13 April. Concerns over data-center regulation intensified against the backdrop of the US midterm elections, dimming the outlook for AI-related demand.
In Tokyo trading on 6 November, the Nikkei 225 fell ¥3,643.13, dropping below the psychologically important ¥60,000 level to its lowest level since 13 April. The Democratic Party, seen as supportive of data-center regulation, made gains in the US midterm elections, putting the brakes on the AI-driven demand boom and optimism. The market briefly entered a state of panic, and large swings are expected to continue.
Expectations that regulation of data-center construction would advance have spread, heightening concerns over a moratorium. Following the midterm election results, some pointed to the possibility of faster moves to tighten regulation at the federal and state levels. A candidate who had pledged to strengthen regulatory reviews in Texas was also reported to have won. This has fueled broader concerns that the premise for expanding AI demand could be undermined.