22 Hrs
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Chips, Oil Sink on Sweep
Chip stocks and oil prices fell following surprise Democratic victories in the US midterm elections, amid hopes of an end to the war between the United States and Iran and concerns about tighter oversight of AI infrastructure. Brent crude futures dropped about 9% to below $100 a barrel, marking a decline of roughly 20% since the start of the week, while Nasdaq futures fell 1%. By contrast, the S&P 500 rose 1.6%, while bond yields and the dollar declined as energy prices fell.
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