The market is facing a political reset at an awkward moment for the AI trade. Democrats were already on course to reclaim the House of Representatives, but their strong showing in Senate races has turned an expected midterm setback for Republicans into a potential Democratic sweep of Congress.
AI Trade
Charu Chanana, Chief Investment Strategist, Saxo Bank Key Points: The current selloff isn’t “AI is over” — it’s a rotation from AI pioneers priced for perfection toward AI enablers with nearer-term cashflows and pricing power. Asia’s resilience reflects its heavier exposure to upstream AI infrastructure (memory, foundries, assembly/packaging) versus the US market’s











