Morning Briefing: The stock markets are suffering from Trump withdrawal
In the US, the stock markets are crashing. And giving a small foretaste: Just because the US President will have less influence in the future, everything will not automatically get better.
The US tech sector is under pressure following the Democrats' victory in the midterm elections. The industry, which has closely aligned with Donald Trump, saw its stocks decline broadly in the US yesterday. The Nasdaq index fell 5.5%, Dow Jones 3.4%, and S&P 500 4.4%, with chipmakers such as Nvidia experiencing significant losses, including a 9% drop that erased its yearly gains.
The market reaction may be driven by concerns that Democrats could slow down infrastructure development for AI and increase regulation. Additionally, disappointing outlooks from Qualcomm and Arm, as well as credit-financed bets, contributed to the stock market decline.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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