Global stocks rally as Democrats win US Congress

nzherald.co.nz —

Global stock markets surged Wednesday after President Donald Trump's Republican Party lost control of Congress in US midterm elections, ending a recent rout in shares. The dollar fell and oil prices dropped sharply. US indexes led gains, with the tech-heavy Nasdaq rising 1.6% after tumbling since last week, while European and Asian markets also mostly advanced. The Democratic victory raised fears of AI regulation, though traders took comfort in Trump's concession and avoided contested results. Brent crude fell 3% to $100.53 per barrel, while gold benefited as a safe haven. Investors also tracked earnings, with BMW rising 6% on job cut plans and Google gaining 3.4% on a $15 billion Malaysia investment.


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