The S&P 500 entered extreme oversold territory on November 2 while 46.8% of its stocks were overbought, a divergence not seen in 36 years. The index closed more than two standard deviations below its 50-day moving average, according to BeInCrypto, citing Bespoke Investment Group. Since 1990, five similar cases saw no more than 33.4% of stocks overbought. In October, the S&P 500 fell 0.9%, while its equal-weighted counterpart gained 5%, the widest gap since April 2009; nine of 11 sectors advanced as investors questioned AI spending. The rotation could benefit energy, healthcare and consumer staples, but October’s gains raise reversal risk.

Australia is facing crop-quality concerns and harvest delays after one of its wettest Octobers on record, adding to threats to global supplies of high-protein wheat, Bloomberg reported.

Nextdc Ltd. shares rose the most since 2010 after the Australian Financial Review reported that Goodman Group and US-listed Digital Realty Trust Inc. had taken a substantial interest in the data-center developer, according to Bloomberg.

According to CNBC, Jim Cramer warned Wednesday that investors may be overinterpreting Wall Street’s rally after the midterm elections. Stocks rose after Democrats won decisively, but technology shares diverged: hyperscalers advanced on expectations that opposition to data center development could slow AI investment and ease spending pressures, while semiconductor stocks and data center developers fell. Cramer said Friday’s Labor Department nonfarm payrolls report could reverse much of the rally and described the election-driven trading as too uncertain to base investment decisions on. Apple shares hit an all-time high Wednesday as investors bet that slower data center construction could ease memory chip prices, which have been pressuring the company’s margins. Microsoft and Amazon also rallied on expectations that a slower AI buildout could lower data center costs and curb capital spending. Nvidia, AMD, CoreWeave, Nebius and Iren fell as investors sold companies reliant on continued AI infrastructure investment. Cramer questioned whether the election could fundamentally change market forces, saying it had not upended the business cycle. He said short-term stock movements may not reflect underlying economic conditions. JPMorgan strategist Michael Cembalest, in his latest Eye on the Market piece Wednesday, wrote that midterms do not affect key market drivers such as 10-year interest rates, commodity prices, Federal Reserve policy, corporate profits, budget deficits, defense spending, AI investment over the next 12 months, AI companies’ borrowing needs and credit spreads.

According to Jin10, SPDR Gold Trust, the world's largest gold ETF, increased its holdings by 2.851 tons from the previous day to 1,040.513 tons.

South Korea's current account surplus topped $60 billion in September, reaching a record as strong semiconductor exports drove the increase. According to Sina Finance, citing the Bank of Korea, the surplus totaled $61.46 billion, up from $46.11 billion the previous month. The figure surpassed the previous monthly record of $49.73 billion set in June and rose from $14.22 billion a year earlier. South Korea's cumulative current account surplus for the first nine months of this year reached $340.66 billion, about three times the $83.89 billion recorded in the same period last year. The country has posted a monthly current account surplus since May 2023, extending the streak to 41 consecutive months through September.

DBS Group Holdings Ltd. reported quarterly earnings below analyst estimates as a tumble in markets trading income dampened gains from lending and wealth, Bloomberg reported. The bank named Lim as its new chairman.

Alphabet Inc.'s Isomorphic Labs is in talks to raise roughly $5 billion in new funding to support its use of artificial intelligence for drug discovery, Bloomberg reported, citing people familiar with the matter.

Despite the Democrats sweeping both houses of Congress, AI stocks initially fell before rising, indicating that the market is truly trading on the difference between expectations and regulations.

With Democrats gaining a majority in both the House and Senate, control over crypto legislation has shifted, and investigations into the Trump family's digital asset business will take priority over pushing for new legislation.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on AI, DeFi, DAO, NFT, and the metaverse.

OFAC has added 10 individuals and 1 entity to its sanctions list to crack down on North Korea’s overseas IT personnel network and its cryptocurrency transfer channels.

The Democratic Party won both houses of Congress in the US midterm elections, marking Trump's worst political defeat since taking office.

Intel's stock price plummeted 28.58% in a single day, retreating more than half from its peak, dragging down the global semiconductor sector. The AI ​​narrative is shifting from buying computing power to demanding returns.

Initial reports of the $6.34 billion theft from Binance point to a fake interview, which North Korea denies, but the real mystery lies in the attackers' ten-day infiltration.

Wang Yongli explained the legislative process for stablecoins in the United States and pointed out that China should not follow suit by issuing RMB stablecoins, but should adhere to the main theme of digital RMB.

A meticulously planned fake interview allowed hackers to infiltrate Binance's core wallet from employee computers over nearly five months, resulting in the theft of $6.34 billion in assets.

During its earnings call, Robinhood listed its stock token TVL, on-chain financial applications, and US users as its real KPIs, while Meme token trading was just the first phase of demand.