Why is Snap stock sliding today?

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• Oil and data centre stocks sink after US midterms

  Shifting political dynamics following Democratic congressional victories have rapidly reshaped investor expectations across major commodity and infrastructure sectors. Traders anticipate reduced geopolitical friction with Iran to curb crude prices, while regional political wins threaten to constrain aggressive technology infrastructure growth. These shifts are simultaneously depressing key Asian semiconductor benchmarks while boosting domestic renewable energy shares and broader equity indexes.

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• Asian Rice Price Climbs Near Two-Year High in Inflation Threat

  Severe weather driven by El Niño is threatening key crop harvests across major producers like India and Thailand, tightening global food supplies. These widespread agricultural disruptions are driving benchmark commodity rates upward and feeding broader food inflation concerns. As wholesale costs surge, import-dependent developing nations face escalating price pressures on an essential dietary staple.

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• India's markets regulator approves Coal India unit Mahanadi Coalfields IPO

  The world's largest coal producer is preparing to offload a 10% stake in its critical eastern Odisha unit to capitalize on India's booming capital markets. A potential $1 billion fundraising could value the energy asset at up to $10 billion, marking another marquee offering alongside other high-profile domestic debuts. The transaction advances state-level plans first signaled in March to monetize stakes in core mining subsidiaries.

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