GLOBAL MARKETS: Oil and Data Centre Stocks Sink After US Midterms

GLOBAL MARKET - 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 US$ 100 a barrel. Brent has dropped by about 20% so far this week.