Major U.S. stock indexes fell on Thursday, giving back most of the gains they had recorded the day after the election. At midday, the S&P 500 was down 4%, while the tech-heavy Nasdaq Composite had fallen more than 5%. Analysts are concerned that Democrats’ nationwide victories in the midterm elections could hinder the rapid expansion of AI, as voters push back against data centers and the tech industry. On Tuesday, voters approved dozens of measures restricting the development of local data centers.