Dow scores its best day in 18 months in a broad relief rally after Democrats sweep to power in Congress

US stocks saw a broad rally on Wednesday, with the Dow rising 2.3%, the S&P 500 gaining 1.72%, and the Nasdaq Composite advancing 2.13%, according to Business Standard IN. MarketWatch Top reported that stocks surged, oil prices plunged, and bond yields fell amid optimism regarding a quicker end to the Iran war following Democratic control of Congress. CNBC noted that CIBC recommended top investor picks after Democratic victories signaled a potentially more difficult regulatory environment for corporations.

In the cryptocurrency market, Bitcoin rose more than 4% to approximately $80,500 and Ether climbed 6% to $2,433, according to Cointelegraph. However, the official Trump and World Liberty Financial tokens were among the biggest losers in the top 100 cryptocurrencies. Cointelegraph reported that the TRUMP memecoin fell 17% to $1.33, while the World Liberty Financial governance token dropped over 7% to $0.047.

These declines followed Democratic victories in the midterm elections, including wins in Texas that gave the party control of the House and Senate.

Brief written by urgent.news from MarketWatch Top, CNBC, Cointelegraph, Business Standard IN — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.