Dow Soars More than 1,500 Points and Crude Oil Drops 8.7% After Republicans Lose Control of Congress in US Midterms
- Asia-Pacific stocks fell 0.9 per cent on Tuesday, led by a 3.8 per cent decline in Korean shares, as Apple dropped 2.8 per cent in after-hours trading after forecasting lower gross margins for the holiday quarter.
- President Donald Trump's Republican Party faces a challenge to retain control of Congress in the midterm elections, with opinion polls favoring Democrats to win the House, though the Senate remains too close to call.
- Prediction markets assign around a 75 per cent probability that Democrats will control the Senate, though MUFG analysts cautioned that "polling margins remain broadly comparable to Trump 1.0 midterms in 2018 when Democrats won the House decisively, but Republicans held onto the Senate."
- Australian stocks rose 0.1 per cent as the Aussie dollar held steady at $0.70, while Treasury yields climbed 2.1 basis points to 4.913 per cent and the US strengthened against the Chinese yuan to 6.6645 yuan.
- Oil prices stabilized after the tumble as renewed US-Iran diplomacy lifted geopolitical risk concerns, with Westpac analysts noting "oil prices fell sharply as renewed hopes for US-Iran diplomacy saw some geopolitical risk premium unwind.
42 Articles
42 Articles
The Toronto Star
Asian shares fall on selling of tech shares as markets watch for results of US midterm elections
HONG KONG (AP) — Asian shares fell Wednesday and U.S. futures edged lower as markets worldwide watched for the results of the U.S. midterm elections.
Asian shares fall on selling of tech shares as markets watch for resul
HONG KONG (AP) — Asian shares fell Wednesday and U.S. futures edged lower as markets worldwide watched for the results of the U.S. midterm elections . Oil prices also declined. Share prices have wavered recently as technology
The Economic Times
Times of IndiaGlobal Market Today: Asian shares retreat as US futures slide on mid-term election bets
Contracts for the S&P 500 Index dropped 0.3%, erasing an initial gain of 0.5%, while those for the Nasdaq 100 declined 0.6%. The dollar dropped against most of its Group-of-10 peers and the yield on the benchmark 10-year Treasury note fell four basis points to 4.92%. The MSCI Asia Pacific Index dropped 0.2% even as South Koreas Kospi Index jumped 1%.
Evening Standard
Stocks falter amid uncertainty ahead of US polls
The US mid-term elections are taking place on Tuesday.
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