American financial markets are starting to deal with the consequences of the midterm elections and the possible slowdown of the Trump administration’s economic agenda. It is above all stocks linked to artificial intelligence that have come under pressure, from chip manufacturers to companies that develop and manage data centres, which so far have been among the main protagonists of Wall Street’s rises.
The results of Qualcomm, the American semiconductor manufacturer struggling with a drop in revenues, also contribute to fueling investor nervousness. A signal that fits into a climate of growing caution towards the technology sector and the growth prospects of companies linked to artificial intelligence.
But what weighs on operators’ assessments are above all the possible political consequences of the American vote. The foreseeable slowdown of some pillars of Trump’s economic agenda risks penalizing investments in technological infrastructures, with repercussions on semiconductor producers and companies involved in the development of data centers.
In this scenario, a possible rotation of portfolios is starting to emerge: investors are considering reducing exposure to technology stocks to favor the more traditional companies represented in the Dow Jones and European stock markets.