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Daniel Noboa is reelected Ecuador's president by voters weary of crime

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Daniel Noboa is reelected Ecuador's president by voters weary of crime
News

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Daniel Noboa is reelected Ecuador's president by voters weary of crime

2025-04-14 11:01 Last Updated At:11:12

QUITO, Ecuador (AP) — Ecuadorian voters weary of crime reelected President Daniel Noboa, a conservative young millionaire with a divisive no-holds-barred crimefighting record, by a wide margin Sunday, but his opponent vowed to seek a recount over what she described as “grotesque” electoral fraud.

Figures released by Ecuador’s National Electoral Council showed Noboa receiving 55.8% of the vote with more than 92% of ballots counted, while leftist lawyer Luisa González earned 44%. Council president Diana Atamaint said those results showed an “irreversible trend” in favor of Noboa.

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A voter holds her ballot during the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

A voter holds her ballot during the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Women line up to vote during the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Women line up to vote during the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

People lines to vote in the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

People lines to vote in the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Ecuador's President Daniel Noboa arrives with his wife Lavinia Valbonesi to address supporters after early returns show him in the lead in the presidential election runoff at his family home in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

Ecuador's President Daniel Noboa arrives with his wife Lavinia Valbonesi to address supporters after early returns show him in the lead in the presidential election runoff at his family home in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

Police stand guard outside the family home of incumbent presidential candidate Daniel Noboa as he awaits the results of the election runoff in Olon, Ecuador, Sunday, April 13, 2025 (AP Photo/Fernando Vergara)

Police stand guard outside the family home of incumbent presidential candidate Daniel Noboa as he awaits the results of the election runoff in Olon, Ecuador, Sunday, April 13, 2025 (AP Photo/Fernando Vergara)

Supporters of President Daniel Noboa celebrate early returns showing him in the lead in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Supporters of President Daniel Noboa celebrate early returns showing him in the lead in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Presidential candidate Luisa Gonzalez addresses supporters as early returns show President Daniel Noboa in the lead in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Presidential candidate Luisa Gonzalez addresses supporters as early returns show President Daniel Noboa in the lead in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Supporters of President Daniel Noboa celebrate early returns showing him in the lead in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Supporters of President Daniel Noboa celebrate early returns showing him in the lead in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Ecuador's President Daniel Noboa addresses supporters after early returns show him in the lead in the presidential election runoff at his family home in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

Ecuador's President Daniel Noboa addresses supporters after early returns show him in the lead in the presidential election runoff at his family home in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

A boy swings on the beach in Olon, Ecuador, during the presidential election runoff, Sunday, April 13, 2025 (AP Photo/Fernando Vergara

A boy swings on the beach in Olon, Ecuador, during the presidential election runoff, Sunday, April 13, 2025 (AP Photo/Fernando Vergara

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, votes in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, votes in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

Electoral officials count ballots after polls close in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Electoral officials count ballots after polls close in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A voter marks the ballot during the presidential election runoff in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

A voter marks the ballot during the presidential election runoff in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

Voters arrive to a polling station the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Voters arrive to a polling station the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A voter casts her ballot during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A voter casts her ballot during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A voter casts her ballot in the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

A voter casts her ballot in the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Incumbent President Daniel Noboa shows his ballot casts before voting, accompanied by his children, in the presidential election runoff in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo)

Incumbent President Daniel Noboa shows his ballot casts before voting, accompanied by his children, in the presidential election runoff in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo)

Incumbent President Daniel Noboa casts his vote, accompanied by his children, in the presidential election runoff in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo)

Incumbent President Daniel Noboa casts his vote, accompanied by his children, in the presidential election runoff in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo)

Voters line up at a polling station during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Voters line up at a polling station during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, speaks after voting in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, speaks after voting in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

A police officer holds his ballot during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A police officer holds his ballot during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, waves to supporters after voting in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, waves to supporters after voting in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

Women line up to vote in the presidential election runoff in Latacunga, Ecuador. Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Women line up to vote in the presidential election runoff in Latacunga, Ecuador. Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, greets supporters after voting in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, greets supporters after voting in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

A man votes in the presidential election runoff in Latacunga, Ecuador. Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

A man votes in the presidential election runoff in Latacunga, Ecuador. Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Incumbent President Daniel Noboa watches as his wife, Lavinia Valbonesi, votes in the presidential election runoff in Guayaquil, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

Incumbent President Daniel Noboa watches as his wife, Lavinia Valbonesi, votes in the presidential election runoff in Guayaquil, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

Incumbent President Daniel Noboa arrives to accompany his wife, Lavinia Valbonesi, to the polls for the presidential election runoff in Guayaquil, Ecuador, Sunday, April 13, 2025.(AP Photo/Fernando Vergara)

Incumbent President Daniel Noboa arrives to accompany his wife, Lavinia Valbonesi, to the polls for the presidential election runoff in Guayaquil, Ecuador, Sunday, April 13, 2025.(AP Photo/Fernando Vergara)

A voter stands next to a soldier guarding a polling station during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A voter stands next to a soldier guarding a polling station during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A soldier directs a nun to her polling station during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A soldier directs a nun to her polling station during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Navy soldiers and reservists stand in formation before heading out to guard polling stations in preparation for Sunday's presidential runoff election, in Guayaquil, Ecuador, Saturday, April 12, 2025. (AP Photo/Fernando Vergara)

Navy soldiers and reservists stand in formation before heading out to guard polling stations in preparation for Sunday's presidential runoff election, in Guayaquil, Ecuador, Saturday, April 12, 2025. (AP Photo/Fernando Vergara)

Soldiers stand behind fences placed around the Government Palace in Quito, Ecuador, Friday, April 11, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Dolores Ochoa)

Soldiers stand behind fences placed around the Government Palace in Quito, Ecuador, Friday, April 11, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Dolores Ochoa)

A campaign poster of Luisa Gonzalez, presidential candidate for the Citizen Revolution party, hangs by a piece of tape on a wall in Guayaquil, Ecuador, Friday, April 11, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Fernando Vergara)

A campaign poster of Luisa Gonzalez, presidential candidate for the Citizen Revolution party, hangs by a piece of tape on a wall in Guayaquil, Ecuador, Friday, April 11, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Fernando Vergara)

Supporters of incumbent presidential candidate Daniel Noboa cheer him on during a campaign rally in Quito, Ecuador, Wednesday, April 9, 2025. (AP Photo/Carlos Noriega)

Supporters of incumbent presidential candidate Daniel Noboa cheer him on during a campaign rally in Quito, Ecuador, Wednesday, April 9, 2025. (AP Photo/Carlos Noriega)

Posters of incumbent presidential candidate Daniel Noboa cover street poles in Guayaquil, Ecuador, Friday, April 11, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Fernando Vergara)

Posters of incumbent presidential candidate Daniel Noboa cover street poles in Guayaquil, Ecuador, Friday, April 11, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Fernando Vergara)

A mural of Luisa Gonzalez, presidential candidate for the Citizen Revolution party, covers a wall in Guayaquil, Ecuador, Thursday, April 10, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Fernando Vergara)

A mural of Luisa Gonzalez, presidential candidate for the Citizen Revolution party, covers a wall in Guayaquil, Ecuador, Thursday, April 10, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Fernando Vergara)

Army soldiers carry electoral kits at a polling station in preparation for Sunday's presidential runoff election, in Quito, Ecuador, Saturday, April 12, 2025. (AP Photo/Dolores Ochoa)

Army soldiers carry electoral kits at a polling station in preparation for Sunday's presidential runoff election, in Quito, Ecuador, Saturday, April 12, 2025. (AP Photo/Dolores Ochoa)

FILES - This combo shows Luisa Gonzalez, presidential candidate from the Citizen Revolution party, left, and Ecuador's President Daniel Noboa, speaking at separate events in Quito, Ecuador on Jan. 19, 2025 and Jan. 22, 2024. (AP Photo/Dolores Ochoa, Files)

FILES - This combo shows Luisa Gonzalez, presidential candidate from the Citizen Revolution party, left, and Ecuador's President Daniel Noboa, speaking at separate events in Quito, Ecuador on Jan. 19, 2025 and Jan. 22, 2024. (AP Photo/Dolores Ochoa, Files)

The win gives Noboa four years to fulfill the promises he first made in 2023, when he stunned voters by winning a snap election and a 16-month presidency despite his limited political experience.

“Ecuador is changing... and that path will mean our children will live better lives than we did,” Noboa told supporters during a brief speech in which he also criticized his opponent's fraud allegations.

“I find it embarrassing that with an 11- or 12-point difference, they come out to question the will of the Ecuadorians,” Noboa added. “Ecuadorians have already spoken, now we have to get to work.”

Noboa, heir to a fortune built on the banana trade, is expected to continue applying some of his no-holds-barred crimefighting strategies that part of the electorate finds appealing but which have tested the limits of laws and norms of governing.

González’s defeat marks the third consecutive time that the party of Rafael Correa, the country’s most influential president this century, failed to return to the presidency. She told supporters that her campaign “does not recognize the results presented by the “(National Electoral Council),” arguing among other issues that pre-election polls showed her ahead of Noboa.

The candidates advanced to Sunday’s contest after getting the most votes in February’s first-round election. Noboa led González by about 17,000 votes that time.

Voters were primarily worried about the violence that transformed the country, starting in 2021 — a spike in crime tied to the trafficking of cocaine produced in neighboring Colombia and Peru.

Both candidates promised tough-on-crime policies, better equipment for law enforcement and international help to fight drug cartels and local criminal groups.

“My vote is clear,” said Irene Valdez, a retiree who voted for Noboa. “I want to continue living in freedom.”

College student Martín Constante had a different view.

“I think Luisa is going to change things because Noboa has been very authoritarian,” Constante, 19, said near a voting center in Quito, the capital. “Our country needs a lot of changes.”

Much of González's support comes from people who long for the low crime and unemployment rates of Correa’s presidency but gloss over his authoritarian tendencies, the huge debt he ran up and the corruption-related sentence handed down to him in absentia in 2020.

More than 13 million people were eligible to vote, which is mandatory for adults up to the age of 65. It is optional for people aged 16 and 17 and over 65. Failure to vote results in a $46 fine.

Electoral authorities reported voter participation of more than 80%.

“The most important thing is that a comfortable result gives peace of mind to the country because it avoids a political confrontation, or even worse, a violent one due to accusations of fraud,” said Grace Jaramillo, an Andean region expert and professor at the University of British Columbia. “Noboa’s victory is clear, and that also reassures the international community in the face of a wave of uncertainty.”

Atamaint said several people, including voters and poll workers, were arrested over ballot anomalies. She said some cases involved double voting and others stemmed from reports of counterfeit, pre-marked ballots.

Atamaint added that 17 people were caught taking photos of their ballots, which the National Electoral Council banned for this election citing reports of voter coercion by criminal groups. The violation comes with a maximum fine of $32,000.

Many Ecuadorians used their vote to express rejection of a candidate and not necessarily to endorse the candidate they voted for.

“Ecuador is polarized, which is a sign of rejection of the past, but also of the recent policies of the Noboa administration,” political analyst Oswaldo Landázuri said, adding that the expected tight result “could become a major problem for the country” if one candidate does not recognize the other as the winner.

In 2023, Noboa and González were largely unknown to most voters as they sought the presidency for the first time. They were first-term lawmakers in May 2023, when then-President Guillermo Lasso dissolved the National Assembly, shortening his own mandate as a result and triggering that year’s snap election.

Noboa’s first foray into politics was his stint as a lawmaker. An heir to a fortune built on the banana trade, Noboa opened an event organizing company when he was 18 and then joined his father’s Noboa Corp., where he held management positions in the shipping, logistics and commercial areas.

González, 47, held various government jobs during the presidency of Correa, who led Ecuador from 2007 through 2017 with free-spending socially conservative policies and grew increasingly authoritarian in his last years as president.

Noboa, 37, declared Ecuador to be in a state of “internal armed conflict” in January 2024, allowing him to deploy thousands of soldiers to the streets to combat gangs and to charge people with terrorism counts for alleged ties to organized crime groups.

Under his watch, the homicide rate dropped from 46.18 per 100,000 people in 2023, to 38.76 per 100,000 people in 2024. But despite the decrease, the rate remained far higher than the 6.85 homicides per 100,000 people seen in 2019.

Some of Noboa’s heavy-handed crime-fighting tactics have come under scrutiny for testing the limits of laws and norms of governing. He has also been criticized for allegations of electoral irregularities he made after February’s vote.

Following the first-round election, Noboa said there had been “many irregularities” and that in certain provinces “there were things that didn’t add up.” He provided no further details or evidence. Electoral observers from the Organization of American States and the European Union ruled out fraud.

As González walked through the streets of Canuto, a town in the coastal province of Manabí where she grew up, to reach her voting center, supporters shouted “Luisa is the people."

“We have all united to rewrite the history of Ecuador,” she told people Sunday before denouncing reports of attempts to “plant marked ballots” with her name.

Garcia Cano reported from Mexico City.

A voter holds her ballot during the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

A voter holds her ballot during the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Women line up to vote during the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Women line up to vote during the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

People lines to vote in the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

People lines to vote in the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Ecuador's President Daniel Noboa arrives with his wife Lavinia Valbonesi to address supporters after early returns show him in the lead in the presidential election runoff at his family home in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

Ecuador's President Daniel Noboa arrives with his wife Lavinia Valbonesi to address supporters after early returns show him in the lead in the presidential election runoff at his family home in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

Police stand guard outside the family home of incumbent presidential candidate Daniel Noboa as he awaits the results of the election runoff in Olon, Ecuador, Sunday, April 13, 2025 (AP Photo/Fernando Vergara)

Police stand guard outside the family home of incumbent presidential candidate Daniel Noboa as he awaits the results of the election runoff in Olon, Ecuador, Sunday, April 13, 2025 (AP Photo/Fernando Vergara)

Supporters of President Daniel Noboa celebrate early returns showing him in the lead in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Supporters of President Daniel Noboa celebrate early returns showing him in the lead in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Presidential candidate Luisa Gonzalez addresses supporters as early returns show President Daniel Noboa in the lead in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Presidential candidate Luisa Gonzalez addresses supporters as early returns show President Daniel Noboa in the lead in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Supporters of President Daniel Noboa celebrate early returns showing him in the lead in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Supporters of President Daniel Noboa celebrate early returns showing him in the lead in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Ecuador's President Daniel Noboa addresses supporters after early returns show him in the lead in the presidential election runoff at his family home in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

Ecuador's President Daniel Noboa addresses supporters after early returns show him in the lead in the presidential election runoff at his family home in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

A boy swings on the beach in Olon, Ecuador, during the presidential election runoff, Sunday, April 13, 2025 (AP Photo/Fernando Vergara

A boy swings on the beach in Olon, Ecuador, during the presidential election runoff, Sunday, April 13, 2025 (AP Photo/Fernando Vergara

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, votes in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, votes in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

Electoral officials count ballots after polls close in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Electoral officials count ballots after polls close in the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A voter marks the ballot during the presidential election runoff in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

A voter marks the ballot during the presidential election runoff in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

Voters arrive to a polling station the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Voters arrive to a polling station the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A voter casts her ballot during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A voter casts her ballot during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A voter casts her ballot in the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

A voter casts her ballot in the presidential election runoff in Pujili, Ecuador, Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Incumbent President Daniel Noboa shows his ballot casts before voting, accompanied by his children, in the presidential election runoff in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo)

Incumbent President Daniel Noboa shows his ballot casts before voting, accompanied by his children, in the presidential election runoff in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo)

Incumbent President Daniel Noboa casts his vote, accompanied by his children, in the presidential election runoff in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo)

Incumbent President Daniel Noboa casts his vote, accompanied by his children, in the presidential election runoff in Olon, Ecuador, Sunday, April 13, 2025. (AP Photo)

Voters line up at a polling station during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Voters line up at a polling station during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, speaks after voting in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, speaks after voting in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

A police officer holds his ballot during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A police officer holds his ballot during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, waves to supporters after voting in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, waves to supporters after voting in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

Women line up to vote in the presidential election runoff in Latacunga, Ecuador. Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Women line up to vote in the presidential election runoff in Latacunga, Ecuador. Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, greets supporters after voting in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

Luisa Gonzalez, presidential candidate from the Citizen Revolution party, greets supporters after voting in the presidential election runoff in Canuto, Ecuador, Sunday, April 13, 2025. (AP Photo/Ariel Ochoa)

A man votes in the presidential election runoff in Latacunga, Ecuador. Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

A man votes in the presidential election runoff in Latacunga, Ecuador. Sunday, April 13, 2025. (AP Photo/Dolores Ochoa)

Incumbent President Daniel Noboa watches as his wife, Lavinia Valbonesi, votes in the presidential election runoff in Guayaquil, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

Incumbent President Daniel Noboa watches as his wife, Lavinia Valbonesi, votes in the presidential election runoff in Guayaquil, Ecuador, Sunday, April 13, 2025. (AP Photo/Fernando Vergara)

Incumbent President Daniel Noboa arrives to accompany his wife, Lavinia Valbonesi, to the polls for the presidential election runoff in Guayaquil, Ecuador, Sunday, April 13, 2025.(AP Photo/Fernando Vergara)

Incumbent President Daniel Noboa arrives to accompany his wife, Lavinia Valbonesi, to the polls for the presidential election runoff in Guayaquil, Ecuador, Sunday, April 13, 2025.(AP Photo/Fernando Vergara)

A voter stands next to a soldier guarding a polling station during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A voter stands next to a soldier guarding a polling station during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A soldier directs a nun to her polling station during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

A soldier directs a nun to her polling station during the presidential election runoff in Quito, Ecuador, Sunday, April 13, 2025. (AP Photo/Carlos Noriega)

Navy soldiers and reservists stand in formation before heading out to guard polling stations in preparation for Sunday's presidential runoff election, in Guayaquil, Ecuador, Saturday, April 12, 2025. (AP Photo/Fernando Vergara)

Navy soldiers and reservists stand in formation before heading out to guard polling stations in preparation for Sunday's presidential runoff election, in Guayaquil, Ecuador, Saturday, April 12, 2025. (AP Photo/Fernando Vergara)

Soldiers stand behind fences placed around the Government Palace in Quito, Ecuador, Friday, April 11, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Dolores Ochoa)

Soldiers stand behind fences placed around the Government Palace in Quito, Ecuador, Friday, April 11, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Dolores Ochoa)

A campaign poster of Luisa Gonzalez, presidential candidate for the Citizen Revolution party, hangs by a piece of tape on a wall in Guayaquil, Ecuador, Friday, April 11, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Fernando Vergara)

A campaign poster of Luisa Gonzalez, presidential candidate for the Citizen Revolution party, hangs by a piece of tape on a wall in Guayaquil, Ecuador, Friday, April 11, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Fernando Vergara)

Supporters of incumbent presidential candidate Daniel Noboa cheer him on during a campaign rally in Quito, Ecuador, Wednesday, April 9, 2025. (AP Photo/Carlos Noriega)

Supporters of incumbent presidential candidate Daniel Noboa cheer him on during a campaign rally in Quito, Ecuador, Wednesday, April 9, 2025. (AP Photo/Carlos Noriega)

Posters of incumbent presidential candidate Daniel Noboa cover street poles in Guayaquil, Ecuador, Friday, April 11, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Fernando Vergara)

Posters of incumbent presidential candidate Daniel Noboa cover street poles in Guayaquil, Ecuador, Friday, April 11, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Fernando Vergara)

A mural of Luisa Gonzalez, presidential candidate for the Citizen Revolution party, covers a wall in Guayaquil, Ecuador, Thursday, April 10, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Fernando Vergara)

A mural of Luisa Gonzalez, presidential candidate for the Citizen Revolution party, covers a wall in Guayaquil, Ecuador, Thursday, April 10, 2025. Ecuadoreans go to the polls on April 13 to elect a new president. (AP Photo/Fernando Vergara)

Army soldiers carry electoral kits at a polling station in preparation for Sunday's presidential runoff election, in Quito, Ecuador, Saturday, April 12, 2025. (AP Photo/Dolores Ochoa)

Army soldiers carry electoral kits at a polling station in preparation for Sunday's presidential runoff election, in Quito, Ecuador, Saturday, April 12, 2025. (AP Photo/Dolores Ochoa)

FILES - This combo shows Luisa Gonzalez, presidential candidate from the Citizen Revolution party, left, and Ecuador's President Daniel Noboa, speaking at separate events in Quito, Ecuador on Jan. 19, 2025 and Jan. 22, 2024. (AP Photo/Dolores Ochoa, Files)

FILES - This combo shows Luisa Gonzalez, presidential candidate from the Citizen Revolution party, left, and Ecuador's President Daniel Noboa, speaking at separate events in Quito, Ecuador on Jan. 19, 2025 and Jan. 22, 2024. (AP Photo/Dolores Ochoa, Files)

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World shares slip as tech shares are hit by fresh AI chip controls

2025-04-16 18:54 Last Updated At:19:00

BANGKOK (AP) — World shares were mostly lower Wednesday as stocks of Nvidia and other technology companies were walloped by tighter U.S. controls on exports of advanced computer chips used for artificial intelligence.

The future for the S&P 500 was down 0.8% while that for the Dow Jones Industrial Average lost 0.3%.

Chip maker Nvidia’s shares fell 5.9% in premarket trading after it said the U.S. had imposed stricter controls on its exports of one of its computer chips designed for use in artificial intelligence. Rival chip maker AMD's shares dropped 6.7%.

Trade war concerns also were revived by a Trump administration announcement of an investigation into imports of critical minerals such as rare earths, which are used in smart phones, electric vehicles and many other products.

In early European trading, Britain's FTSE 100 lost 0.3% to 8,224.51 after the government said inflation in the U.K. fell for the second month running in March largely as a result of lower gas prices.

Germany's DAX fell 0.7% to 21,139.72, while the CAC 40 in Paris gave up 0.5% to 7,299.72.

Stocks in China led Asian declines after Beijing reported the world’s second largest economy grew at a strong 5.4% annual rate in the first quarter of the year, helped by strong industrial production, retail sales and exports. But in quarterly terms, growth slowed to 1.2% in January-March from 1.6% in the final quarter of 2024.

Hong Kong's Hang Seng dropped 1.9% to 21,056.98, while the Shanghai Composite index regained lost ground, adding 0.3% to 3,276.00.

Private sector economists have been downgrading their forecasts after President Donald Trump recently pushed his tariffs on most imports from China to 145%, while China raised its duties on imports from the U.S. to 125%.

Analysts at ANZ Research said activity in the current quarter is already weakening.

“Our view is that the tariff shock is caused by the unpredictability rather than the tariff itself. President Trump’s announcements have affected business sentiment and activity,” Raymond Yeung and other ANZ researchers said in a report after the China data was released.

In Tokyo, the Nikkei 225 index shed 1% to 33,920.40, pulled lower by big tech companies like chip testing equipment maker Advantest, whose shares dropped 6.6% and Disco Corp. which plunged 8%.

South Korea's Kospi fell 1.2% to 2,447.43, while in Australia, the S&P/ASX 200 edged less than 0.1% lower to 7,758.90.

India's Sensex rose 0.4% and Bangkok's SET climbed 0.9%.

On Tuesday, U.S. stocks drifted, with the S&P 500 slipping 0.2% and the Dow down 0.4%. The Nasdaq composite edged less than 0.1% lower.

Uncertainty over President Donald Trump's tariffs kept investors watching to see what comes next.

The U.S. bond market appeared to calm after its sudden and sharp moves last week shook confidence in the status of U.S. government bonds as a safe haven against risks.

The yield on the 10-year Treasury was steady at 4.33%, down from 4.38% late Monday and 4.48% at the end of last week. A week earlier it had been at just 4.01%. Yields usually drop when investors are jittery, so this week’s moves have offered reassurance.

The value of the U.S. dollar also steadied after tumbling last week, raising more worries that Trump’s trade war also may be undermining its status as a safe-haven investment.

Palantir Technologies climbed 6.2% for a second day of gains after NATO said it would use the company’s artificial-intelligence capabilities in its allied command operations.

In other dealings early Wednesday, U.S. benchmark crude oil bounced back from early losses, gaining 45 cents to $61.78 per barrel, while Brent crude, the international standard, picked up 49 cents to $65.16 per barrel.

Trump's tariffs have raised expectations that economies will slow, denting demand for oil and other resources.

The U.S. dollar fell to 142.71 Japanese yen from 143.24 yen. The euro rose to $1.1369 from $1.1283.

Trader Fred Demarco works on the floor of the New York Stock Exchange, Tuesday, April 15, 2025. (AP Photo/Richard Drew)

Trader Fred Demarco works on the floor of the New York Stock Exchange, Tuesday, April 15, 2025. (AP Photo/Richard Drew)

A screen showing the foreign exchange rate between U.S. dollar and Chinese yuan is seen at a foreign exchange dealing room in Seoul, South Korea, Wednesday, April 16, 2025. (AP Photo/Lee Jin-man)

A screen showing the foreign exchange rate between U.S. dollar and Chinese yuan is seen at a foreign exchange dealing room in Seoul, South Korea, Wednesday, April 16, 2025. (AP Photo/Lee Jin-man)

ADDS THE NAME OF THE BANK - Screens showing the Korea Composite Stock Price Index (KOSPI), right, is seen near the tv screen showing President Donald Trump and Chinese President Xi Jinping during the news reporting at a foreign exchange dealing room of Hana Bank in Seoul, South Korea, Wednesday, April 16, 2025. (AP Photo/Lee Jin-man)

ADDS THE NAME OF THE BANK - Screens showing the Korea Composite Stock Price Index (KOSPI), right, is seen near the tv screen showing President Donald Trump and Chinese President Xi Jinping during the news reporting at a foreign exchange dealing room of Hana Bank in Seoul, South Korea, Wednesday, April 16, 2025. (AP Photo/Lee Jin-man)

ADDS THE NAME OF THE BANK - The screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won are seen at a foreign exchange dealing room of Hana Bank in Seoul, South Korea, Wednesday, April 16, 2025. (AP Photo/Lee Jin-man)

ADDS THE NAME OF THE BANK - The screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won are seen at a foreign exchange dealing room of Hana Bank in Seoul, South Korea, Wednesday, April 16, 2025. (AP Photo/Lee Jin-man)

ADDS THE NAME OF THE BANK - Employees of Hana Bank talk near the screens showing the Korea Composite Stock Price Index (KOSPI), center, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Wednesday, April 16, 2025. (AP Photo/Lee Jin-man)

ADDS THE NAME OF THE BANK - Employees of Hana Bank talk near the screens showing the Korea Composite Stock Price Index (KOSPI), center, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Wednesday, April 16, 2025. (AP Photo/Lee Jin-man)

ADDS THE NAME OF THE BANK - A tv screen, bottom, showing President Donald Trump during the news reporting near the screens, top, showing the Korea Composite Stock Price Index (KOSPI), left, the foreign exchange rate between U.S. dollar and South Korean won and the Korean Securities Dealers Automated Quotations (KOSDAQ) are seen at a foreign exchange dealing room of Hana Bank in Seoul, South Korea, Wednesday, April 16, 2025. (AP Photo/Lee Jin-man)

ADDS THE NAME OF THE BANK - A tv screen, bottom, showing President Donald Trump during the news reporting near the screens, top, showing the Korea Composite Stock Price Index (KOSPI), left, the foreign exchange rate between U.S. dollar and South Korean won and the Korean Securities Dealers Automated Quotations (KOSDAQ) are seen at a foreign exchange dealing room of Hana Bank in Seoul, South Korea, Wednesday, April 16, 2025. (AP Photo/Lee Jin-man)

ADDS THE NAME OF THE BANK - Hana Bank employees watch computer monitors at a foreign exchange dealing room in Seoul, South Korea, Wednesday, April 16, 2025. (AP Photo/Lee Jin-man)

ADDS THE NAME OF THE BANK - Hana Bank employees watch computer monitors at a foreign exchange dealing room in Seoul, South Korea, Wednesday, April 16, 2025. (AP Photo/Lee Jin-man)

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