US Share markets staged somewhat of a recovery Friday, from the huge collapse suffered Thursday, on the tech-heavy NASDAQ. The NASDAQ lost 5.5% of it’s value Thursday, the worst in over 18 months, following post-election fears over data centres. Democrats have threatened data-centres, putting AI and Chips stocks at risk, triggering the crash. Friday attempted to reclaim some lost ground, while the safety of the US Dollar was sought. The EUR slumped to 1.1150, while the GBP crashed to 1.3370.Commodity currencies suffered the resurgent reserve, with the AUD tumbling to 0.6860, while the NZD crashed to 0.5530. Uncertain times bring negative sentiment to markets and this was reflected in the currencies. A gridlock US Government should be relatively good for markets, although State Governors can impact, especially in the construction of datacentres. Markets will evaluate impact the NZ National election results, which appear to have favoured the incumbents, at least preliminarily.
