저자: NBC News · 외국인
요약 보기
어제의 상승분이 반도체와 AI 주식의 대규모 매도로 한꺼번에 사라졌다. 나스닥은 거의 4% 하락했다. 여야가 나뉜 정부는 무역 정책과 이란 전쟁을 견제할 수 있어 월가가 처음에는 반겼지만, 분위기가 바뀌어 실망하는 목소리가 나온다. 선거 전부터 필라델피아 반도체지수 등 반도체주는 이미 약세장에 들어가 있었고, AI 주식은 네오클라우드, 하이퍼스케일러 등 층위별로 다르게 반응한다고 분석된다. 유가는 WTI 기준 배럴당 90달러 아래로 내려왔지만 호르무즈 해협은 여전히 대부분 막혀 있다. 연준은 9월 금리를 올린 뒤 10월 동결했고, 올해 안에 한 차례 더 인상할 가능성이 제기된다. 이번 선거의 핵심 쟁점은 생활비 부담이었다.
다듬은 글
All right, a huge swing on Wall Street this morning. Yesterday's gains wiped out by a huge chip and AI stock selloff. This morning, the Dow down sharply. The tech heavy Nasdaq seeing an even sharper decline, almost 4% for the NASDAQ. You know, I really pay attention at 2%. At 4%, I'm like, okay, that's not good.
Uh the reality for Wall Street here, divided government can be good for investors. Democrats will potentially be a check on some of the president's disruptive trade policies. And Democrats have vowed to end the war with Iran. Something Wall Street initially cheered, but now it is jeers on Wall Street.
Joining us now, NBC News business and economy reporter Ally Canal and NBC News business and data correspondent, uh, Brian Chung. We'll call you the business twins for now, shall we? Okay, so that's good. So, what's h what's happening right now? Ah gosh, this is just whiplash that we've seen over the past week.
Really, remember last week we saw that AIdriven sell-off. Google down something like 12%, one of its worst days in quite some time. And then we had this relief rally happened yesterday on the heels of that Democratic sweep in Congress. And I think a lot of that relief just had to do with the fact that markets love certainty.
And at the very least, we made it through the midterms and at least we know what we're dealing with. And the president accepted the election. That was big. And not only did he accept it, he said he's willing to work with Democrats. And I think that was a big fear on Wall Street. And like you mentioned, just a divided government.
checks on one another and also Democrats could maybe tie the president's hand when it comes to pulling back on some of his more inflationary policies like trade wars and the Iran war. But now, of course, today we're just seeing the reversal. I think it's interesting because last week there had been some soularching.
By soularching, I mean selling regarding AI. Uh and so then there was this enthusiasm about the certainty of the election and now we've kind of gone back to okay, what's the balance of power going to look like? And oh by the way, we were still having the soularching around AI. What's happen? And I think that on the surface, right, especially because this market is driven so much by artificial intelligence and specifically chip stocks that it'd be easy to say, well, a Democratic Congress is going to be bad for those stocks because they're going to regulate uh it heavily and they're also going to pull back on data center construction.
But we also have to remember that soularching was already happening even prior to this midterm happening by many measures like the Philly semiconductor index for example. We were already in a bare market on those chip stocks before the election because we maybe just got a little far ahead of our skis on the AI trade which was driving so much of the stock market gains over the last few years anyway.
And so the catalyst right now is the midterm election, but we have to remember the semiconductor and by by and large the whole stock market has been very sensitive to these AI stocks even prior to and there's all these different levels of AI stocks. There's the neoclouds and the hyperscalers and the min scales.
We're kind of monolithing. could go and right and then even within some of the big tech names there was this feeling that oh well they're better positioned if you have a slowdown in AI data center build out in the United States well the big guys they win so that's good for them so there's like a lot of different plays here I want to talk about oil though because we saw oil fall below $90 a barrel for West Texas intermediate crude um what's happening with oil here is optimism over Democrats helping to push for an end to the war in Iran
yeah I think that that's what's happening here again like I mentioned maybe the president pulls back on tariffs those things that have been more inflationary maybe the war Iran ends earlier of course these are all projections though I mean at the end of the day the straight of vermoose is still mostly shut down that's what's driving a lot of these big oil gains here uh so we have to wait and see we we've seen this whiplash in oil prices too of course we've seen an uptick a downtick and this could help at the margin when it comes to those prices at the pump and as we saw with this election it all centered on affordability it's centered on gas diesel prices which filters through into just about everything that we buy.
It's really important. It's really top of mind. And as we move through the next two years and head into 2028, the presidential election, which honestly is not too far away here, it's something that Republicans and Democrats are going to be really focused on because it was such a hot button issue this time around.
It's cruel to invoke 28 already. I feel like we're still That's like a $5 jar. Listen, it's already Christmas time, guys. You're not bringing me there. Okay, hold on. Hold on. The public really spoke though. was a real Main Street affordability election. The cost of living a big problem. Prices need to come down.
And then Bloomberg had this interesting headline this morning. Trump's trouncing gives Federal Reserve Chief Worsh room for whatever for maneuver on on rates, arguing that now he has more leeway here because because people have spoken so loudly. Do you agree? Well, look, the Fed hiked interest rates in September, first time they had done over three years, and then they paused in October, just a few days before the election.
That was just last week. It feels like a million years ago. But the big story for the Fed then was well, they said they wanted to see more data. But we asked him, is it because the election is coming up in just a few days? And he said, like all Fed chairs do, it didn't factor into our decision. But I think to the point of the Bloomberg article that you were mentioning, the Fed did already message the chance that they would hike interest rates again before the end of the year.
There's a strong likelihood they hike in their final meeting. When they hike interest rates, that's meant to get inflation under control, right? Because higher interest rates are usually the medicine that the Fed delivers to the economy to make the economy go a little bit slower, make inflation come down.
The political uh litmus test of this midterm shows people want that and the Fed has now more pressure to deliver that. Okay. Biz twins, power twins activate. I love it. All Canal, Brian Chong, nice to see you this morning.
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