US Democrats’ sweep of both houses of Congress initially weighed on tech shares, Treasury yields and bitcoin, but markets quickly recovered early losses. The dollar remained lower against the euro and sterling, while Meta raised $15 billion through a five-part bond offering.
US Democrats’ historic sweep of both houses of Congress was widely expected, but its scale still resonated across markets. AI- and tech-led stocks initially fell on concerns about tighter AI regulation and opposition to data-center construction; stock markets and bitcoin then recovered early losses. The dollar remained lower against the euro and sterling.
Treasury yields slipped as tech and AI concerns weighed on the economic outlook and a divided Congress was expected to limit further spending or borrowing plans. Oil was volatile as attention returned to the Middle East. September job openings rose sharply, a sign of labor-market strength that could reinforce expectations for another Federal Reserve rate hike by year-end.
Meta Platforms is raising $15 billion through a five-part dollar bond offering and sold euro-denominated bonds for the first time. The offering follows expanded plans for a potential $97.5 billion equity raise to fund AI infrastructure. AMD shares rose more than 7% before the bell after it beat earnings forecasts and said demand for AI infrastructure remained strong.
