The Democrats’ victory in the U.S. midterm elections boosted hopes of ending the U.S.-Iran war. Brent crude futures fell nearly 9% overnight, dropping below $100 a barrel. Brent crude is down about 20% this week; if the decline continues through Friday’s close, it could be the biggest weekly drop in oil prices since April 2020. Shares of Asian data center companies and equipment suppliers fell amid expectations of tighter regulation, while solar supply chain stocks led the market on expectations of greater support for renewable energy. Lower energy prices supported bonds and the broader stock market, and weakened the U.S. dollar. Most analysts expect the market to slow temporarily, but do not believe the election results will ultimately reduce demand for AI, data centers or chips.