[Watcher Guru] JUST IN: Elon Musk's SpaceX $SPCX and Tesla $TSLA lose over $420 billion in combined market value after Democrats win US midterm elections.

Elon Musk's SpaceX ($SPCX) and Tesla ($TSLA) shed more than $420 billion in combined market value after Democrats won the U.S. midterm elections. The sell-off hit both names simultaneously, erasing a sum larger than the market caps of most S&P 500 companies. The reaction reflects investor concern that a divided or Democrat-controlled government could weigh on Musk's businesses, though the article does not specify which policies are driving the move. The scale of the loss makes it one of the largest single-day wealth destructions tied to a political outcome for Musk-linked assets. What to watch next: whether the decline holds as post-election policy signals emerge, and whether the drop in private-market SpaceX valuation spills over into Tesla's share price.