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    US stocks today: Dow rallies 1,500 pts, S&P, Nasdaq over 1% as Democrats win midterm elections

    Wall Street experienced a significant rally after the Democrats gained control of Congress, which eased political uncertainties. Investor sentiment was boosted, although data centre stocks faced a selloff due to potential scrutiny. Major tech companies like Amazon and Meta Platforms rose in value while AI infrastructure providers struggled. A decline in oil prices further contributed to market optimism regarding energy and clean technologies.

    Nomura silences AI doubters, says Kospi can hit 10,000 mark to double as fundamentals are intact

    South Korea's Kospi plunged to a nine-month low amid fears that US political shifts could slow AI infrastructure spending and hurt chip demand. However, Nomura remains bullish, projecting a potential recovery towards 10,000, with a near-term target of 7,500–8,000.

    AI meltdown: Kospi crashes 9%, hits 9-month low as Wall Street bloodbath after midterm elections spills to Asia; circuit breaker triggered

    The sell-off followed a global market rout on Thursday, which saw the Nasdaq 100 plunge 6.4%, wiping out a record $2.3 trillion in market value. The weakness extended across Asia on Friday, with chip-heavy indices coming under pressure. Japan's Nikkei 225 Stock Average and Taiwan's Taiex were also on course to enter technical bear market territory, having fallen 20% from their respective peaks.

    Nasdaq set to confirm correction as AI stocks tumble

    The shock selloff comes a day after the Democrats' election victory including in some key data-center states drove concerns about a slowdown in the AI data-center buildout, optimism about which had pushed stock markets to record highs earlier this year.

    Inflation, tariffs come back to haunt Trump as voters deliver economic verdict in US midterms

    US President Donald Trump faced a voter backlash over inflation, tariffs and rising living costs as Democrats scored sweeping victories in the 2026 midterm elections. An AP Voter Poll found that about two-thirds of voters blamed Trump's policies for fuelling inflation, while concerns over inequality, healthcare costs and democracy deepened Republican losses.

    Inflation, tariffs and a voter revolt: The midterm verdict on Trump's economy

    US President Trump's policies led to rising inflation, resulting in substantial Republican losses in the midterm elections. Many voters attributed the economic challenges to Trump rather than his predecessor, Democrat Joe Biden. The electorate expressed dissatisfaction with the economy, particularly lower-income voters who felt financially worse off. Additionally, a significant number wanted the government to address healthcare costs and economic inequality.

    The Economic Times
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