{
  "id": 18237280,
  "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",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-05T02:51:49.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40447523/oil-and-data-centre-stocks-sink-after-us-midterms"
  },
  "original_language": "en",
  "account": "Oil, chip stocks and the dollar experienced a decline in Asia on Thursday after US voters gave Democrats a series of stunning midterm election wins. The Democrats' victory raised hopes for an end to the US-Iran war, which led to a 9% drop in Brent crude futures overnight, falling below $100 a barrel. This was the largest weekly drop in oil prices since April 2020. The rally in bonds due to tumbling energy prices lowered yields and dragged the dollar to a one-month low. Broad stock indexes, including the S&P 500 and European shares, climbed. Solar supply chain stocks saw the most significant gains, anticipating Democrats' support for renewables. In contrast, data centre companies and their equipment suppliers across Asia faced a decline in stock prices due to expectations of tougher regulation. South Korea's chipmaker-heavy KOSPI dropped 4%, and Taiwan's benchmark index fell 1.8%. The tech equipment suppliers also dragged down the Nikkei, which fell 0.5%. The magnitude of Democrats' victories caught markets off guard, according to Chris Weston, head of research at Pepperstone in Melbourne. Analysts believe that this victory won't significantly impact demand for artificial intelligence, data centers, or computer chips, but they now anticipate a temporary slowdown. The outcome of the war with Iran could further push oil prices lower, alleviating inflation pressure and reducing the likelihood of future interest rate hikes. The benchmark 10-year US Treasury yield decreased by 6 basis points overnight and another basis point in early Tokyo trade to 4.87%, while 2-year yields, which track short-term rate expectations, fell about 2 basis points to 4.56%.",
  "summary": "SINGAPORE: Oil, chip stocks and the dollar were under pressure in Asia on Thursday and just about everything else was up after US voters swept the Democrats to a series of stunning midterm election wins, a result that raised hopes for an end to the US-Iran war. Brent crude futures dived nearly 9% overnight , falling below $100 a barrel. Brent has dropped by about 20% so far this week. If…",
  "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": "Free Malaysia Today",
        "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-18233995",
        "published": "2026-11-05T02:39:16.000Z"
      },
      {
        "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"
      }
    ]
  },
  "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."
}