{
  "id": 18235901,
  "title": "Oil and data centre stocks sink after US midterms",
  "url": "https://urgent.news/2026/11/05/oil-and-data-centre-stocks-sink-after-us-midterms-18235901",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-05T02:39:53.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/11/05/oil-and-data-centre-stocks-sink-after-us-midterms"
  },
  "original_language": "en",
  "account": "Oil, chip stocks, and the dollar faced pressure in Asia on Thursday following US voters' sweeping victory in the midterm elections. This outcome fueled hopes for an end to the US-Iran war, leading to a 9% plunge in Brent crude futures, dipping below US$100 a barrel. The decline in energy prices boosted bond yields, weakened the dollar to a one-month low of US$1.1273 per euro, and supported stocks. Broad stock indexes, including the S&P 500 and European shares, experienced gains, with the latter reaching a two-month high.\n\nSolar supply chain stocks saw the most significant rise, anticipating increased support for renewables from the Democratic-controlled Congress. However, data center companies and their equipment suppliers across Asia faced declines due to expectations of stricter regulation. South Korea's chipmaker-focused Kospi fell 4%, nearing a seven-month low, while Taiwan's benchmark index dropped 1.8%. Tech equipment suppliers contributed to the Nikkei's 0.5% decline.\n\nAnalysts believe the Democratic victory may temporarily slow down demand for artificial intelligence, data centers, and computer chips. However, most believe it won't significantly impact these sectors in the long run. Oil prices tested overnight lows at US$93.50, sparking speculation that US President Donald Trump, facing a Democratic Congress and hurt by high energy prices, might be less inclined to escalate the war with Iran. The Republican defeat was partly attributed to the ongoing war, with Trump's vice-president JD Vance even more bluntly stating, \"The reason we lost is the war.\"\n\nA potential resolution could further reduce oil prices, alleviating inflation pressure and diminishing the likelihood of future interest rate hikes. The yield on benchmark 10-year US Treasuries dropped 6 basis points overnight, while 2-year yields, tracking short-term rate expectations, fell about 2 basis points to 4.56%.",
  "summary": "Tumbling energy prices encouraged a rally in bonds, which lowered yields and helped broad stock indexes.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Oil and data centre stocks sink after US midterms",
        "url": "https://urgent.news/2026/11/05/oil-and-data-centre-stocks-sink-after-us-midterms",
        "published": "2026-11-05T02:36:23.000Z"
      },
      {
        "outlet": "The Economic Times - Top News",
        "title": "Oil and data centre stocks sink after US midterms",
        "url": "https://urgent.news/2026/11/05/oil-and-data-centre-stocks-sink-after-us-midterms-18239878",
        "published": "2026-11-05T02:44:49.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Oil and data centre stocks sink after US midterms",
        "url": "https://urgent.news/2026/11/05/oil-and-data-centre-stocks-sink-after-us-midterms-18237280",
        "published": "2026-11-05T02:51:49.000Z"
      }
    ]
  },
  "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."
}