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Oil and data centre stocks sink after US midterms
SINGAPORE: Oil, chip stocks and the dollar were under pressure in Asia on Thursday and just about everything else was up after US voters swept the Democrats to a series of stunning midterm election wins, a result that raised hopes for an end to the US-Iran war. Brent crude futures dived nearly 9% overnight, falling below $100 a barrel. Brent has dropped by about 20% so far this week. If sustained through to Friday’s close, it would make for the largest weekly drop in oil prices since a week in April 2020 when US crude briefly fell into negative territory. Tumbling energy prices encouraged...
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