Global markets rally after US midterm vote, banks and tech surge

Global markets rallied Wednesday after Democrats won the US midterm elections, with stocks and bonds rising while oil and gas prices plunged. The dollar weakened against all major currencies. Investors focused on Democrats' opposition to the Iran war and plans to curb AI development. Brent crude fell 10% to near $93 a barrel, while European bank and renewable energy stocks surged. Defense and semiconductor stocks initially dropped, though big tech later rallied. Wall Street closed sharply higher, with the Dow Jones gaining 3.03% in its best day since April 2025. Treasury yields fell across the curve, with the 10-year at 4.90%. Bitcoin surpassed $80,000.