US stocks surge, Brent oil's price drops below $95 per barrel
NEW YORK — U.S. stocks are soaring Wednesday after President Donald Trump’s party lost its sole control of Washington in the midterm elections. Stocks generally do well in the months following any midterm U.S. election, regardless of who wins, and the S&P 500 jumped 1.8 percent. The Dow Jones Industrial Average was up 1,524 points, or 2.9 percent, as of noon Eastern time, and the Nasdaq composite…
U.S. stocks experienced a significant surge on Wednesday, following President Donald Trump's party losing its sole control of Washington in the midterm elections. The S&P 500 jumped 1.8 percent, the Dow Jones Industrial Average climbed 1,524 points, or 2.9 percent, and the Nasdaq composite increased by 2.1 percent. Solar-power companies, dollar stores, and hospital owners were among the top performers, as investors tried to discern the winners and losers in the aftermath of Republican losses.
Wall Street also exhibited caution regarding Trump's social-media company, the artificial-intelligence industry, and businesses owned by Elon Musk, who contributed heavily to Republican campaigns.
However, the price of a barrel of Brent crude oil dropped below $100 for the first time in nearly a month. This decline was attributed to Vice President JD Vance, who blamed the ongoing war with Iran for the spike in oil prices, which in turn impacted Republican's midterm election results. Analysts on Wall Street had been cautioning investors against getting caught up in the excitement of election-related market movements.
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- US stocks surge, Brent oil's price drops below $95 per barrel koreatimes.co.kr
