World shares advance as Democrats' victory eases political uncertainty
SPY•SPY•SPY•SPY•Global stocks rallied after Democrats won control of both chambers of Congress in the US midterm elections. The S&P 500 rose 1.58%, the Dow gained 3.03% and Brent crude fell nearly 9% to settle at $94.62 a barrel.
Global stocks rallied on Wednesday after Democrats won control of both chambers of Congress, providing greater political clarity and reducing uncertainty that had weighed on markets. The Dow Jones Industrial Average rose 3.03%, the S&P 500 gained 1.58% and the Nasdaq Composite advanced 1.44%.
Brent crude futures fell nearly 9% to settle at $94.62 a barrel. The yield on the benchmark US 10-year Treasury note fell 6.62 basis points to 4.88%, while spot gold rose 3.49% to $4,065.80 an ounce.
Investors weighed the prospect of greater political certainty against questions about what Congress will do over the next two years. The article said investors expect the Democratic-controlled Congress to apply more scrutiny to the AI sector.
