On November 6, Capital Economics economist Joe Maher noted in a report that even if market concerns about the US political outlook prove overblown and stocks rebound in the short term, US equities will still struggle to return to their early October highs in the near term. He believes the trigger for the overnight selloff was investor concern that Democrats may seek to regulate the artificial intelligence industry and restrict data center construction at the congressional or state level. Maher said market sentiment toward the AI trade had already shown signs of fragility, and US equities had displayed many late-cycle characteristics; this event could become a trigger driving a more sustained downturn in the AI stock boom.