Wall Street roars: Dow rockets 1,500 points as Democrats sweep Congress
Dow ends up 3.0% as US stocks rally after midterm elections
Wall Street experienced a significant surge on Wednesday as markets welcomed the resolution of US midterm elections. The Dow Jones Industrial Average led the rally, jumping 3%, while the Nasdaq composite climbed 364.50 points, and the S&P 500 rose 119.70 points, marking its best day in three months. The Dow's performance was its best since April 2025 and its biggest post-midterm gain since 1982.
Oil prices dropped more than 8%, falling to $94.62 per barrel, as the prospect of a slowdown in the US-Iran war put downward pressure on crude. Analysts suggested that political gridlock would limit Congress's ability to pass major tax and spending packages, leading to cautious optimism among investors.
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