Yiwen Lu11/6/24

Trump's win cascades through far-flung markets

America decides, the world reacts: the ripple effect of Donald Trump’s election win are transferred across global financial markets, especially among stocks with the strongest links to the Republican leader’s policy priorities, from clean energy to electric vehicles.

Europe

European renewable-energy stocks, including Orsted, Vestas Wind Systems, and EDP Renewables, tanked on potential policies against the green-energy transition and offshore wind projects under the Trump administration.

Spain’s second-largest bank, BBVA, dropped nearly 8% on Wednesday morning as a Trump presidency poses risks to its business in Mexico, the bank’s biggest customer.

Shares of BMW, Mercedes-Benz, Porsche, and Volkswagen all plunged on tariff fears, as Trump previously threatened that on goods from the European Union. The auto stocks were among the worst performers in the EURO STOXX 50 index on Wednesday.

Danish shipping company A.P. Moller - Maersk dropped 6.4% as traders assessed the impact of a Trump win on ocean freight rates.

South Korea

Hanwha Solutions Corp., a South Korean firm that’s invested billions into its solar-panel business in Georgia, fell 8.2%. Likewise, South Korean battery-maker LG Energy Solutions saw its shares sink 7% amid fears that a less-than-friendly stance toward electric vehicles under the Trump administration will dent its US business.

China

Software company Wisesoft, whose Chinese name sounds like “Trump wins big,” was up 10% on the day and halted. The meme stock gained 96.8% over the past six months. Conversely, Zhejiang Haers Vacuum Containers, where Haers sounds like “Harris,” fell 7.1% on Wednesday.

US-listed shares of Chinese companies mostly plunged, including electric-vehicle companies Nio Inc and Li Auto.

More Markets

See all Markets

Micron reports another stellar quarter and blowout guidance

The memory chip specialist did it again.

7th China International Import Expo (CIIE) Opens In Shanghai

Luke Kawa, Tasha Matsumoto

Stocks sink as inflation fears rise

Stocks sank after a hotter-than-expected producer price index reading as well as a higher inflation forecast from the Fed amid rising energy prices.

Brown bear on a rock

Hyperscalers and hard hats

If you build it, gains will come

Construction workers

Federal Reserve leaves rates unchanged; dot plot still signals lower rates in the cards for 2026

A relatively dovish reaction function from the US central bank.

Fed Chair Jerome Powell Holds An News Conference On Interest Rates

markets

Matt Phillips16h

Constellation, Talen, and NRG surge as BNP analysts see “golden (AI)ge” ahead for them

Power producers Talen Energy, Constellation Energy, and NRG jumped Wednesday, benefiting in part from a rosy write-up by analysts at BNP Paribas, who launched coverage of all three at “outperform” and argued that the AI energy trade — a big AI-related winner in recent years that has lagged a bit recently — is due for a second wind.

That view was in a broad note on the independent power producer segment of utilities industry that the analysts published Wednesday, titled “The Golden (AI)ge of IPPs.”

Here’s the gist of it:

US independent power producers (IPPs) have lagged the AI basket for 6+ months, after garnering much attention in 2023-1H25. Investors are caught up in the minutia of perceived headwinds: underwhelming pace of power purchase agreement deals, distributed behind-the-meter solutions stealing the ‘time-to-power’ edge, pressure for data centers to bring generation and not tighten the grid, etc.

And yet, as we demonstrate, despite all this noise, the wave of rising load is at the cusp of an acceleration that will nonetheless overwhelm new supply—well into the 2030s, in our view. Hop on or risk missing the resurgent AI trade this decade.

BNP’s price targets for the stocks — Constellation ($407), NRG ($232) and Talen ($549) — implied gains of 32%, 50%, and 68% respectively. (Though today’s gains would reduce those potential upside targets somewhat for new buyers.)

US independent power producers (IPPs) have lagged the AI basket for 6+ months, after garnering much attention in 2023-1H25. Investors are caught up in the minutia of perceived headwinds: underwhelming pace of power purchase agreement deals, distributed behind-the-meter solutions stealing the ‘time-to-power’ edge, pressure for data centers to bring generation and not tighten the grid, etc.

And yet, as we demonstrate, despite all this noise, the wave of rising load is at the cusp of an acceleration that will nonetheless overwhelm new supply—well into the 2030s, in our view. Hop on or risk missing the resurgent AI trade this decade.

BNP’s price targets for the stocks — Constellation ($407), NRG ($232) and Talen ($549) — implied gains of 32%, 50%, and 68% respectively. (Though today’s gains would reduce those potential upside targets somewhat for new buyers.)

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Derivatives, LLC, or Robinhood Money, LLC. Futures and event contracts are offered through Robinhood Derivatives, LLC.

©2026 Sherwood Media, LLC