{"id":73976,"date":"2026-11-01T20:38:17","date_gmt":"2026-11-02T00:38:17","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-brace-for-us-midterms-as-gold-rebounds-and-kioxia-slumps\/73976\/"},"modified":"2026-11-01T20:38:17","modified_gmt":"2026-11-02T00:38:17","slug":"global-markets-brace-for-us-midterms-as-gold-rebounds-and-kioxia-slumps","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-brace-for-us-midterms-as-gold-rebounds-and-kioxia-slumps\/73976\/","title":{"rendered":"Global Markets Brace for US Midterms as Gold Rebounds and Kioxia Slumps"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-brace-for-us-midterms-as-gold-rebounds-and-kioxia-slumps\/73976\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-brace-for-us-midterms-as-gold-rebounds-and-kioxia-slumps\/73976\/#Precious_Metals_and_Commodities\" >Precious Metals and Commodities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-brace-for-us-midterms-as-gold-rebounds-and-kioxia-slumps\/73976\/#Tech_and_Semiconductor_Slump\" >Tech and Semiconductor Slump<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-brace-for-us-midterms-as-gold-rebounds-and-kioxia-slumps\/73976\/#Asian_and_European_Market_Outlook\" >Asian and European Market Outlook<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-brace-for-us-midterms-as-gold-rebounds-and-kioxia-slumps\/73976\/#Geopolitical_and_Regulatory_Developments\" >Geopolitical and Regulatory Developments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-brace-for-us-midterms-as-gold-rebounds-and-kioxia-slumps\/73976\/#Infrastructure_and_Public_Sentiment\" >Infrastructure and Public Sentiment<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> rebounded 0.7% to nearly $3,900 per ounce<\/strong> as easing <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a> and &quot;dip-buying&quot; activity followed the metal&#39;s worst October performance since 2008.<\/li>\n<li><strong>Kioxia (<a href=\"\/stock\/285A\">285A<\/a>) shares plummeted 14%<\/strong> after the memory chipmaker issued a disappointing Q3 profit forecast of \u00a52.00 trillion, missing the \u00a52.35 trillion analyst consensus.<\/li>\n<li><strong>China\u2019s central bank is convening a high-level meeting<\/strong> to discuss expanding support for the domestic stock market, specifically targeting relending programs for share buybacks.<\/li>\n<li><strong>A federal judge dismissed a DOJ lawsuit<\/strong> aimed at blocking the certification of Alaska\u2019s US Senate results, a critical ruling just 48 hours before the US midterm elections.<\/li>\n<li><strong>Public opposition to AI data centers has reached 71%<\/strong>, according to Gallup, as American homeowners increasingly cite environmental and utility cost concerns.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Precious_Metals_and_Commodities\"><\/span>Precious Metals and Commodities<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Spot gold<\/strong> rose 0.6% to $3,899.39 on Monday, staging a recovery after a brutal 3.7% drop on Friday. The rebound was supported by a decline in <strong>crude oil prices<\/strong>, which eased immediate inflation fears and reduced the pressure on the Federal Reserve to maintain an aggressive hawkish stance. <em><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a><\/em> also benefited from the shift in sentiment, gaining 1.3% to reach $49.76 per ounce.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_and_Semiconductor_Slump\"><\/span>Tech and Semiconductor Slump<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The semiconductor sector faced renewed pressure as Kioxia (<a href=\"\/stock\/285A\">285A<\/a>) warned that the rapid surge in <strong>NAND flash memory prices<\/strong> is beginning to stall. The company\u2019s outlook suggests that average selling prices (ASPs) are plateauing after a year of AI-driven growth, a sentiment that dragged down partner <a href=\"https:\/\/stockmarketwatch.com\/stock\/SNDK\" data-internallinksmanager029f6b8e52c=\"19\" title=\"Stock: SNDK\">SanDisk<\/a> (<a href=\"\/stock\/SNDK\">SNDK<\/a>) by over 13%. <em>Analysts suggest the market is now reacting to a &quot;second derivative&quot; slowdown, where the rate of price increases is decelerating even if demand remains firm.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Asian_and_European_Market_Outlook\"><\/span>Asian and European Market Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Asia-Pacific markets opened lower on Monday, with the <strong>Nikkei 225<\/strong> falling 0.5% and the <strong>KOSPI<\/strong> dropping 1.4% as investors reacted to Friday\u2019s tech sell-off on Wall Street. In contrast, European equity futures signaled a cautiously optimistic open, with the <strong>EURO STOXX 50<\/strong> up 0.2%. Market participants remain largely sidelined as they brace for the <strong>US midterm elections<\/strong> on Tuesday, which will determine the balance of power in Congress.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Geopolitical_and_Regulatory_Developments\"><\/span>Geopolitical and Regulatory Developments<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In China, the <strong>People\u2019s Bank of China (PBOC)<\/strong> is reportedly meeting with securities regulators and major banks to refine market support tools. This move follows a difficult October for Chinese equities, where the <strong>CSI 300<\/strong> saw its worst monthly performance in over a decade. Meanwhile, in the US, the dismissal of the DOJ\u2019s Alaska lawsuit removes a significant legal hurdle for the state&#39;s election certification, though the DOJ has already filed an appeal.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Infrastructure_and_Public_Sentiment\"><\/span>Infrastructure and Public Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A new <strong>Gallup report<\/strong> highlights a growing hurdle for Big Tech\u2019s infrastructure ambitions, revealing that most Americans oppose the construction of data centers near their homes. The survey found that 71% of respondents are against these facilities, citing concerns over <strong>noise pollution, water consumption<\/strong>, and potential spikes in local electricity bills. This local resistance comes as companies like Google and <a href=\"https:\/\/stockmarketwatch.com\/stock\/MSFT\" data-internallinksmanager029f6b8e52c=\"18\" title=\"Stock: MSFT\">Microsoft<\/a> continue to invest billions in AI-capable infrastructure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Gold prices rebounded 0.7% to nearly $3,900 per ounce as easing oil prices and &quot;dip-buying&quot; activity followed the 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