Nasdaq off 2% as AP calls Georgia Senate race for Warnock
- Democrat Raphael Warnock, a senior pastor at the historic Black church
Ebenezer Baptist Church in Atlanta, has defeated Republican incumbent
Sen.
Kelly Loeffler in the Georgia Senate runoff elections, according to the
Associated Press.
- The victory puts the Senate 50-49 in favor of the Republicans.
Democrats could flip control the chamber if Jon Ossoff prevails over
incumbent David Perdue, but the race remains too close to call.
- Big Tech appears to be getting nervous about possible coming
legislation. *As of 4:00 a.m. ET:* Nasdaq futures are off 2.3%, while
Dow futures are down 0.2% and contracts linked to the S&P 500 are 0.7%
lower.
- "For new tech companies, Congressional action could mean opportunity
to compete, to innovate, to build products and services without
immediately
being squashed by one of the giants," wrote political strategist and
venture capitalist Bradley Tusk. "So while a Democratic Senate is
unquestionably bad for Big Tech, it's not necessarily bad for tech
overall." He also predicts Democrats would likely enact laws around
internet privacy, similar to Europe's GDPR legislation.
|Today, 2:35 AM|100 Comments
- Democrat Raphael Warnock, a senior pastor at the historic Black church
Ebenezer Baptist Church in Atlanta, has defeated Republican incumbent
Sen.
Kelly Loeffler in the Georgia Senate runoff elections, according to the
Associated Press.
- The victory puts the Senate 50-49 in favor of the Republicans.
Democrats could flip control the chamber if Jon Ossoff prevails over
incumbent David Perdue, but the race remains too close to call.
- Big Tech appears to be getting nervous about possible coming
legislation. *As of 4:00 a.m. ET:* Nasdaq futures are off 2.3%, while
Dow futures are down 0.2% and contracts linked to the S&P 500 are 0.7%
lower.
- "For new tech companies, Congressional action could mean opportunity
to compete, to innovate, to build products and services without
immediately
being squashed by one of the giants," wrote political strategist and
venture capitalist Bradley Tusk. "So while a Democratic Senate is
unquestionably bad for Big Tech, it's not necessarily bad for tech
overall." He also predicts Democrats would likely enact laws around
internet privacy, similar to Europe's GDPR legislation.
|Today, 2:35 AM|100 Comments
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