{
  "id": 18235902,
  "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-18235902",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-05T02:39:16.000Z",
  "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-2"
  },
  "original_language": "en",
  "account": "Oil, chip stocks and the dollar faced pressure in Asia on Thursday after US voters solidly backed the Democrats in the midterm elections, sparking hopes for an end to the US-Iran war. Brent crude futures plummeted nearly 9%, dipping below US$100 per barrel and marking the largest weekly decline since April 2020.\n\nThe drop in energy prices bolstered bond yields, weakened the dollar to a one-month low against the euro, and supported stocks. Major stock indexes, including the S&P 500 and European shares, experienced a rise in value.\n\nSolar supply chain stocks gained the most, anticipating increased Democratic support for renewables, while data centre companies and their equipment suppliers in Asia saw a decline due to expectations of stricter regulation. South Korea's chip-heavy KOSPI index fell by 4%, nearing a seven-month low. Taiwan's benchmark index also experienced a 1.8% decline.\n\nData centre opponents, who campaigned on moratoriums for data centre construction, secured significant victories in Texas and Georgia. This shift in public opinion suggests a potential temporary slowdown for AI, data centres, and computer chips. However, most analysts believe demand will not be significantly impacted.\n\nAnalysts believe a resolution to the US-Iran war could further lower oil prices, easing inflation pressure and decreasing the likelihood of future interest rate hikes. The yield on benchmark 10-year US Treasuries dropped by 6 basis points overnight, and 2-year yields, which track short-term rate expectations, fell by 2 basis points to 4.56%.",
  "summary": "Brent crude plunged nearly 9% overnight to below US$100 a barrel as US midterm results raised hopes of an end to the Iran war.",
  "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."
}