US stocks weekly: Revolt

** S&P 500 .SPX drops fourth straight week, sheds 2.7% in tumultuous trading as investors revolt against AI bets after Democratic midterm election victory .N

** Dow .DJI dips 0.9%, tech-heavy Nasdaq Composite .IXIC declines fourth consecutive week, stumbles 3.4% and confirms correction

** US 10-Year Treasury yield falls to end around 4.86% in flight to safety US/

** Majority of sectors face rebellion: Energy and Technology overthrown, while defensive plays, Communication Services and Consumer Discretionary emerge triumphant

** Energy .SPNY sinks 11.9%. Group tracks oil price slump as midterm election rebuke dents Iran war risk premium O/R

** Tech .SPLRCT tanks 6.9%. Chipmaker Marvell MRVL.O, optical components maker Lumentum LITE.O dive after $115 bln deal stokes unease over AI spending

Semiconductors plummet as Democratic sweep, earnings prompt trade unwind

Semiconductor index .SOX crashes ~12%

Apple AAPL.O slips after warning rising cost of memory chips to pressure holiday-qtr margins

Oracle ORCL.N slides on $20 bln AI fundraising

On the bright side, First Solar FSLR.O rises as Democrats win US Congress

** Industrials .SPLRCI crumble 2.8%. AI-related Caterpillar CAT.N, Cummins CMI.N, Johnson Controls JCI.N, Vertiv VRT.N and Comfort Systems FIX.N slide after US midterm results amplify data center demand worries

Defense stocks including Lockheed Martin LMT.N, RTX RTX.N sag as Democratic sweep puts Pentagon spending under spotlight

** Consumer Staples .SPLRCS up 1%. Bleach maker Clorox CLX.N climbs after quarterly beat, helped by resilient demand

** Communication Services .SPLRCL gains 2.3%. Marketing platform AppLovin APP.O surges 71% on week after higher Q3 profit

** Consumer Discretionary .SPLRCD rallies 2.7%. McDonald's MCD.N jumps as Q3 profit beat outweighs steeper-than-expected US sales decline

However, Musk-led Tesla TSLA.O loses traction as Texas turns blue, extends losses as midterm results cloud data center, merger outlook with his other company, SpaceX SPCX.O

** Meanwhile, bears charge, bulls retreat in AAII's latest sentiment survey

** SPX performance YTD: