Oil and data centre stocks sink after US midterms, global markets react to Democratic victory

Oil prices, chip stocks, and the dollar were under pressure in Asia on Thursday, while broad stock indexes climbed, following the Democratic victory in US midterm elections. Brent crude futures dived nearly 9% overnight, falling below $100 a barrel, driven by hopes for an end to the US-Iran war, which could alleviate inflation pressure and reduce the likelihood of future interest rate hikes. Shares in data center companies and their equipment suppliers across Asia fell on expectations of tougher regulation.