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Market Winners and Losers
Wall Street suffered a sharp sell-off following the results of the U.S. midterm elections, amid fears of tighter oversight of data centers and rising AI investment costs. President Donald Trump blamed Democrats for the decline. The Nasdaq lost about $2.5 trillion in market value, and losses spread to Asia: the Nikkei fell more than 6% and the Kospi 8.8%, prompting a 20-minute trading halt in South Korea. Investors turned to the yen as a safe haven, while authorities in Seoul and Taipei stepped in to support markets as they awaited U.S. jobs data.
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