On 10 May 2024, a powerful coronal mass ejection arrived at Earth at 17:05UT and caused a major geomagnetic storm. With the minimum SYM-H excursion of-497 nT (5-min data), this storm is the largest geomagnetic disturbance since March 1989, and can be categorized as a superstorm. In this work, by using a set of ground-based and space-borne instruments, we study the electrodynamic and ionospheric response to the May 2024 storm at middle and low latitudes. During the main phase of the storm, we observed a major super-fountain effect associated with an extreme ionospheric uplift. During the maximum disturbance at ~23:30UT on 10 May, the amplitude within the equatorial ionization anomaly crests reached 170 TECU in GNSS data and 130 TECU in the Swarm A data (i.e., above ~430 km of altitude). Moreover, DMSP showed the occurrence of a 2-peak density structure at ~850 km of altitude with 500-600% density increase, which is an indication of an extremely strong upward ExB drift and strong meridional thermospheric winds circulating during this storm. While the observed dayside ionospheric effects are quite significant, they are less intense than those that occurred during the 15 July 2000 and 29-30 October 2003 superstorms. During the recovery phase, a severe negative storm was observed in the American sector, driven by very strong ExB drift and composition changes. The negative deviation occurred during the recovery phase of the May 2024 storm is one of the strongest ever observed since the beginning of the GPS/GNSS VTEC era. Key-points:-during the main phase of the storm, an extreme dayside ionospheric uplift occurred driven by the PPEF and by storm-time thermospheric winds-the recovery phase was marked by significant drops in the ionospheric plasma density driven by downward ExB drift-compared to previous superstorms, the May 2024 event caused moderately intense positive ionospheric storm and the strongest negative storm