Democrats won majorities in both chambers of the US Congress in the midterm elections, giving them control of the Senate and the House of Representatives. President Donald Trump conceded the Republican defeat on election night and indicated that he was open to cooperation with Democrats, while warning that he could use his veto power if necessary.
Trump’s comparatively restrained response eased market concerns, helping shares rise in Europe and the United States. AI stocks were an exception: investors worried that Democratic control could bring increased regulation and slow the construction of AI data centers.
In the Handelsblatt podcast “Today,” ING chief economist for Germany and Austria Carsten Brzeski discusses why Democrats are unlikely to halt the AI boom. Handelsblatt US correspondent Laurin Meyer also examines what Democratic control of both chambers could mean for Trump. The episode is hosted by Anis Micijevic and produced by Florian Pape.
Sources: Handelsblatt.