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Friday | November 06, 2026 | Dhaka

AI stocks, oil drop on US election ‘blue wave’

 Reuters
 Published: 12:01 AM, 06 November 2026
A man holding an umbrella walks in front of an electric board showing the Nikkei index for the Tokyo Stock Exchange.

Chip stocks and the dollar fell on Thursday, while oil steadied around recent lows and broader share prices, gold and other assets rose after a sweeping Democratic victory in US midterm elections raised hopes for an end to the US-Iran war.

Brent crude futures dived nearly 9pc overnight, falling below $100 a barrel for the first time in two months.

The price has dropped by about 20pc so far this week, heading for its largest weekly loss since April 2020.

Tumbling energy prices encouraged a rally in bonds, which lowered US yields, kept the dollar around one-month lows against the euro , and helped stocks.

The MSCI All-World index (.MIWD00000PUS), opens new tab was up 0.1pc, having posted its biggest one-day gain since late July on Wednesday.

In Europe, the STOXX 600 (.STOXX), opens new tab rallied another 0.7pc, bringing the index to within a whisker of August’s record high.

“When it comes to the headline result, it’s not too different from investor expectations beforehand, even if the scale of the Democratic victory was bigger than expected,” Deutsche Bank strategist Jim Reid said.