Stories by Zachary Basu

Europe's right-wing populists are driven by more than immigration

The recent surge of right-wing populist movements in Europe has become a dominant narrative in international media, but the actual election performance of nationalist parties suggests that the scale of their growing influence may be overblown — and that their rise may be rooted in social forces besides migration.

Data: National election commissions and statistical offices. Get the data. Chart: Harry Stevens/Axios

The big picture: An Axios analysis found that in the last two election cycles, right-wing populist parties, as defined by the Foundation for European Progressive Studies, experienced gains (>0.05%) in 15 out of the 27 countries that will vote in next year's European Parliament elections. But a number of these parties were already growing prior to the 2015 refugee crisis — often cited as the main factor in the rise of the far-right —  while others lost support after the crisis, despite vowing to cap immigration.

Brexit standoff continues as EU, U.K. leaders dig in

Theresa May
British Prime Minister Theresa May speaking at the EU summit in Salzburg, Austria. Photo: Sean Gallup via Getty Images

At an informal EU summit in Salzburg, Austria, British Prime Minister Theresa May said her Chequers plan for Brexit is "the only serious and credible proposal" that has been brought to the table, while European Council President Donald Tusk said the plan "will not work," reports BBC News.

The big picture: Negotiators for the U.K. and the EU cannot get past the question of what to do about the Irish border. Tusk has said that, if needed, there will be a special EU summit on Nov. 17 and 18. But May's persistence that Chequers is the only possible way forward — despite today's forceful rejection by EU leaders — offers little reason to be optimistic that a compromise will be reached.

S&P, Dow hit record highs led by Amazon and Apple

Traders on floor of NYSE
Photo: Xinhua/Qin Lang via Getty Images

The S&P 500 and Dow Jones Industrial Average reached record highs Thursday thanks to sharp gains by Amazon and Apple, as well as diminished concerns over the scale of the U.S.-China trade war.

Why it matters: A handful of stocks continue to drive the market to record highs. Some market-watchers worry about the lack of breadth in the market, and what could happen if and when there is a rotation out of these stocks.