GE Vernova Sinks 10% on Data Center Fears

GE Vernova ($GEV) dropped 10% Wednesday morning after Democrats won both chambers of Congress in Tuesday's midterms, with Evercore ISI warning the result could bring "incrementally more negative sentiment" for AI infrastructure stocks. Vistra fell 12% and Constellation Energy slid 7% on the same worry: a more restrictive policy environment for data centers. The reaction contrasts with equipment makers still booking record orders, as Eaton's electrical backlog rose 46% year over year and Caterpillar's power generation sales jumped 30% in the third quarter.