Overview
- Global equity markets pushed higher after the US midterm outcome lifted risk appetite and US indexes staged strong gains, with the Dow up around 3% and the S&P and Nasdaq also rising.
- Germany’s DAX moved very close to its all-time high as brokers priced the index higher before trade and traders said buyers have driven the index up to within a few dozen points of the record.
- Brent and WTI oil prices fell to roughly $93–94 and $86–87 per barrel respectively, a drop that traders say eases headline inflation worries and helps corporate profit outlooks.
- The rally was uneven because investors rotated out of defence and some AI and semiconductor names on expectations of tighter budget or regulatory headwinds, and company-level shocks drove sharp stock moves.
- Rheinmetall’s profit warning and cut guidance triggered nearly a 17% share slump and helped push parts of Europe and Asia into sector-led weakness, notably a steep fall in South Korea’s Kospi that reflected spillover in chip and AI stocks.