Possible scenario

Restrictions Sweep Locally

its chance, of the story’s futures

−0.6%on the S&P 500, if it happens

The initial 29-to-1 count turns into a broad local-election rebuke of large AI data-center projects. Municipalities adopt moratoria, special-use permit requirements, water restrictions and power-cost safeguards, extending the trend that already blocked dozens of projects in 2026.

What it moves

Utilities−1.7%
Technology−1.1%
Industrials−0.7%
Non-Energy Materials−0.6%

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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