U.S. stocks reversed their post-election rally on November 5: the Nasdaq fell 5.5% and the S&P 500 lost 4.4%, Reuters columnist Jamie McGeever reports. Chip stocks dropped 12%, their second-biggest fall on record, as investors reassessed risks to the AI data-center buildout. Rates markets no longer fully priced another Fed increase until March. The split across assets matters: Bitcoin fell 6% to $75,000, while gold gained 1% and oil ended 3-4% higher. These are the report’s session observations.
Related currencies / asset groups: BTC · XAU · index
McGeever links the tech selloff to investor fears about constraints on the AI data-center buildout after the midterms.
www.channelnewsasia.comMcGeever reports Nasdaq losses of 5.5% and S&P 500 losses of 4.4% on November 5.
www.channelnewsasia.comMcGeever says rates markets were not fully pricing another Fed hike until March.
www.channelnewsasia.comThe report records Bitcoin down 6% to $75,000, gold up 1% and oil ending 3-4% higher.
www.channelnewsasia.comLimitation: investor fears do not establish that restrictions will be enacted, and the report leaves the market's turning point unresolved.
www.channelnewsasia.comNo UK100 price data around this story yet.
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