After-hours sentiment on U.S. stocks: The market movement suggests investors believe Trump has lost both chambers of Congress—and is pricing in a historic landslide defeat. Unless he somehow regains a decisive advantage over Harris, this outcome seems unlikely. Currently, Republican-led states are outperforming poll projections by 4%. If all these states show a consistent 3–4% polling error, it could be enough to retain control of the Senate. I actually think this scenario is quite plausible—after all, current polling data is essentially a joke. If the Democrats return to power, data center expansion will slow down as a result. The market has already priced in the pace of this slowdown—even Polymarket has priced in the magnitude of the policy shift. Permits for construction, transmission line approvals, and utility regulations will all face increased hurdles. Over the next six-year cycle, cryptocurrencies will face repeated liquidations and renewed regulatory scrutiny. Law enforcement agencies will re-emerge in every corner where money is concentrated. If this happens, we’re looking at an even longer bear market. Expectations must be adjusted. In summary, losing both chambers will undoubtedly continue to pressure markets in the short term—expect a sharp drop followed by a gradual rebound. If the vote count is overwhelmingly one-sided tomorrow, the situation will be confirmed between 8 a.m. and 4 p.m. Beijing time on November 4. For the next two days, hold tight—don’t rush to catch the falling knife!