Election bets, tech stocks fall, and Bitcoin under Trump: market news roundup

Election betting site Polymarket gives Trump good odds. But it may also have a big problem with fraud.

Over a billion dollars a bet was made about the presidential elections on the website Polymarket. But new research shows the site is being inundated with so-called “wash trading” and is making the platform appear more popular than it actually is.

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The Dow fell 250 points and the Nasdaq fell 420 as Microsoft and Meta led a selloff in tech stocks.

The Dow Jones Industrial Average fell more than 250 points mid-morning Thursday, along with sharp declines in the Nasdaq and S&P 500, following Microsoft’s earnings reports (MSFT) and Meta (META) as both tech giants face challenges in meeting growing demand for AI. Meta shares fell about 3% in Thursday trading, while Microsoft shares fell more than 5%.

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What will happen to Bitcoin if Donald Trump or Kamala Harris win the election? Here’s what you need to know

Bitcoin is holding strong at $73,000, poised for a new all-time high. just a week before the US elections – an event that many traders expect will increase market optimism, regardless of the outcome.

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Shares of Nvidia and other AI companies are being dragged down by Microsoft and Meta

Despite stable quarterly earnings, Microsoft (MSFT) and Meta (META) Shares fell Thursday as both tech giants signaled significant future spending on artificial intelligence. needs and prospects for slower growth. Shares of companies that have become leaders in the artificial intelligence sector fell, despite significant investments in generative artificial intelligence, which previously inspired investor optimism.

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Trump Media shares and Bitcoin signal Donald Trump’s election victory, strategist says

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Eric Bailey, executive managing director of The Beiley Group at Steward Partners, spoke with Quartz for the latest installment of our Smart Investing video series. – Andy Mills Read more

Elon Musk says Trump’s economic plans will cause ‘temporary difficulties’ and crash stock market

Elon Musk is currently the richest person on the planet. That’s likely one reason he agrees with former President Donald Trump’s economic plans, which he said are causing “temporary difficulties” in the pursuit of a healthier economy in a few years.

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Beloved AI Super Micro Computer could be booted from Nasdaq as shares fall another 15%

Super Micro Computer shares (SMIK) fell another 15% on Thursday, trading at $28 per share. after the resignation of auditor Ernst & Young. Although the server company joined the S&P 500 index in March 2024, it hasn’t had a smooth year and now faces a potential delisting from Nasdaq. After receiving a letter of non-compliance in September, Super Micro has until November 16 to submit a plan to Nasdaq to regain compliance or face delisting for the second time in five years.

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Super Micro Computer shares fall 30% due to departure of auditor Ernst & Young

Super Micro Computer (SMIK) shares fell 32% in morning trading Wednesday after server company announced that its auditor, Ernst & Young, had resigned. The departure follows months of controversy over Super Micro Computer’s management practices and the independence of its board of directors.

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Bitcoin’s Rise Predicts Donald Trump’s Election Win, Strategist Says

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Eric Bailey, executive managing director of The Beiley Group at Steward Partners, talks about Mag 7’s upcoming earnings and election.

Robinhood Just Joined Election Betting

You can now trade contracts of Kamala Harris or Donald Trump on the Robinhood trading platform (HOOD). There is only a week left before the elections. this programlaunched Monday, allows users to place bets on which candidate they think will win, adding a new way to participate in the political process through the platform.

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