{
  "id": 17984503,
  "title": "Stock markets shaky ahead of U.S. midterm election as Apple faces pressure",
  "url": "https://urgent.news/2026/11/03/stock-markets-shaky-ahead-of-u-s-midterm-election-as-apple-faces",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T15:45:16.000Z",
  "source": {
    "name": "Global News",
    "slug": "global-news-globalnews",
    "url": "https://globalnews.ca/news/12134358/stock-markets-midterm-elections/"
  },
  "original_language": "en",
  "account": "North American stock markets experienced mixed trading on Tuesday morning as Apple's shares faced significant pressure ahead of the U.S. midterm elections. Some Wall Street analysts are concerned that a Democratic takeover of Congress could lead to stricter regulations and restrictions on AI development. However, President Donald Trump would still be in office and have the power to veto any such legislation. The preference for divided control of Washington remains, as it is believed to minimize the risk of transformative policies that could reshape the economy.\n\nHistorically, the S&P 500 has seen positive returns in the six months following a midterm election, dating back to 1970, according to Edward Jones analyst Brock Weimer. On Tuesday, the S&P 500 saw a minor 0.2% increase, despite more stocks declining than rising. The Dow Jones Industrial Average experienced a 0.4% decline, while the Nasdaq composite gained 0.5%. Bay Street's TSX closed about 0.75% lower, with Shopify shares plunging 9% following mixed earnings results.\n\nIn recent times, stock markets have been volatile due to concerns about overvalued tech and AI stocks. Most influential AI-related stocks showed resilience on Tuesday, bolstering the market, albeit after initial gains during the morning. Nvidia led the gains with a 3.1% increase, followed by CoreWeave's 2.6% rise. These companies had been the center of recent industry fluctuations.\n\nApple, traditionally viewed as a Big Tech company relatively unburdened by AI, is increasingly feeling the impact of the AI boom. The company reported stronger-than-expected profit and revenue for the latest quarter, yet its stock slipped 3.4% due to heightened memory chip costs. Meanwhile, Palantir Technologies dropped 4.2%, despite surpassing analyst expectations with improved profit.\n\nOn the positive side, Celanese and DuPont gained 4.9% and 7%, respectively, as Wall Street anticipates continued strong profit growth driven by robust U.S. economic performance, despite high inflation and elevated interest rates. The S&P 500 reached a record high last month. Meanwhile, oil prices fluctuated, with Brent climbing above $107 per barrel before briefly falling below $101 due to ongoing uncertainty surrounding the Iran conflict.",
  "summary": "North American stock markets are drifting in mixed trading on Tuesday morning, with Apple dropping sharply in early trading ahead of the U.S. midterm elections.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNBC",
        "title": "Apple's John Ternus faces early test as global memory crisis hurts profits",
        "url": "https://urgent.news/2026/11/03/apples-john-ternus-faces-early-test-as-global-memory-crisis-hurts",
        "published": "2026-11-03T12:10:31.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}