The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all increased significantly following the midterm elections, led by gains in technology stocks and a decline in crude oil prices.
Wall Street ended higher on Wednesday as the Democrats’ sweeping US midterm elections victory eased political uncertainty and boosted investor's risk appetite. The rally was primarily due to gains in technology stocks, with AI heavyweights rising, while chipmakers and data centre operators fell on concerns over tighter AI regulation.
The Dow Jones Industrial Average jumped over three percent, the S&P 500 climbed 1.6 percent, and the Nasdaq Composite gained over 1.4 percent. This surge was also influenced by a decline in crude oil prices amid hopes of a possible de-escalation in West Asia conflict.
On the economic front, according to government data, the U.S. trade deficit narrowed by 0.7 billion US dollars (USD) to 105 billion USD in September.
Source:
Akashvani News
