MARKETS

S&P 500 7,376.86 +0.31% NASDAQ 24,579.42 +1.09% FTSE 100 10,673.94 -1.01% NIKKEI 57,435 -5.96% BRENT $98.32 +0.03% GOLD $4,074.9 -0.94%

Delayed 15 min · 06:45 GMT

FLASH

Moderna lifts 2026 growth outlook to 15–25% after 29% Q3 jump Panama’s $8.5B Bet: The Canal That Wants to Be More Than a Canal Microsoft reportedly winds down Oracle AI-computing deal; Oracle falls 4% Up 1,500, down 1,800: Wall Street’s wildest week since the 2025 tariff crash Fox closes $22B Roku takeover months ahead of schedule Nikkei, Kospi plunge 6% as AI crash spreads to Asia Nasdaq crashes 5.5% as $2.5 trillion vanishes in AI rout Europe’s Stoxx 600 hits record as money rotates out of AI Toyota soars 16.7%, raises profit forecast 15% on hybrids, weak yen Europe’s defence darling, Rheinmetall, plunges 16% after second sales cut in three months

Moderna lifts 2026 growth outlook to 15–25% after 29% Q3 jump Panama’s $8.5B Bet: The Canal That Wants to Be More Than a Canal Microsoft reportedly winds down Oracle AI-computing deal; Oracle falls 4% Up 1,500, down 1,800: Wall Street’s wildest week since the 2025 tariff crash Fox closes $22B Roku takeover months ahead of schedule Nikkei, Kospi plunge 6% as AI crash spreads to Asia Nasdaq crashes 5.5% as $2.5 trillion vanishes in AI rout Europe’s Stoxx 600 hits record as money rotates out of AI Toyota soars 16.7%, raises profit forecast 15% on hybrids, weak yen Europe’s defence darling, Rheinmetall, plunges 16% after second sales cut in three months

Industries

War premium voted out: Brent sheds ~$9 after US midterms

Brent fell $8.94, or 8.6%, to $94.66 per barrel on Wednesday, with traders pricing an end to the Iran war after the White House tied Tuesday’s midterm losses to the conflict. For India, cheaper crude is a direct tailwind for the rupee and the import bill.

News | 5 November 2026

War premium voted out: Brent sheds ~$9 after US midterms

Brent closed at $117.64 on 30 October, a six-month high, so it has dropped more than $20 in under a week.

Election night took about $9 off a barrel. Brent fell $8.94, or 8.6%, to $94.66 per barrel on Wednesday, after touching its lowest level since September 4, with traders pricing an end to the Iran war after the White House tied Tuesday’s midterm losses to the conflict.

Just days earlier, Brent closed at $117.64 on 30 October, a six-month high. Washington’s own Vice President JD Vance blamed the war with Iran, which caused a spike in oil prices, for Republicans’ midterm losses.

Tehran isn’t buying the peace trade yet: its supreme leader reportedly said that those expecting a shift in US policy towards his country after the midterm elections were “gravely mistaken”. The premium is gone for now, but it can come back.