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Tech Falls, Renewables Up
Democrats’ control of the U.S. Congress triggered a sell-off in financial markets amid concerns about tighter oversight of technology and artificial intelligence companies. The Nikkei fell 4.47%, the Nasdaq dropped more than 2%, and the Dow Jones declined about 1.8%. The dollar slipped 0.6% to 101.27 points, while gold rose 2.4% to $4,025 an ounce as investors turned to safe-haven assets. By contrast, the political shift strengthened expectations that renewable energy companies would benefit from Democratic support.
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