Dow Jones surges 2% on Democrat midterm election victory
Dow up 2%, Nasdaq and S&P 500 each up 1% after Democrats won control of Senate and House.
US markets surged after Democrats took control of Congress in midterm elections. The Dow climbed 2%, while the tech-heavy Nasdaq and the benchmark S&P 500 each rose more than 1%.
Investors moved into Treasury bonds as a safer bet, pushing yields down and the US dollar to a one-month low. The dollar weakened against the pound, euro, yen and Swiss franc.
Investors believe Democratic control will restrain what they see as Trump's turbulent policymaking.
- 2%
- Dow Jones gain
- more than 1% each
- Nasdaq and S&P 500 gain
- 4.918%
- 10-year treasury yield
Why it mattersMarket swings directly affect retirement savings, investment returns and the value of money people hold.
AustraliaA weaker US dollar typically strengthens the Australian dollar, making American imports more expensive for Australian shoppers but boosting local exporters' competitiveness.
✓ Claims checked against the source. checked 2 h ago
