Today's biggest winners and losers in the Global market.
On this episode of Stock Movers:
- US equity index futures erased losses as the Democratic sweep in the midterms was seen as largely priced into equity markets, which had fallen in the run-up to the vote on concerns that the artificial intelligence buildout would face greater regulatory scrutiny.
- Investors initially saw a Democratic wave as a potential setback for stocks given the prospect of tighter regulatory scrutiny, particularly of high-growth technology and artificial intelligence companies. Treasuries, meanwhile, stand to benefit if political gridlock limits further tax cuts and government spending, easing concerns about federal borrowing.
- Shares of Tesla and Space Exploration Technologies Corp. dropped in after-hours trading as early US midterm election results pointed toward a decisive win by Democrats.