US Midterm Elections Reshape Global Markets

Global markets saw a risk-on rally on Wednesday as the US midterm elections shifted the political balance, with Democrats taking control of Congress and reshaping investor bets across technology, bonds, currencies, and commodities. Wall Street closed sharply higher, with the Dow Jones Industrial Average posting its biggest daily gain in 18 months. European stocks also rose after President Donald Trump signaled readiness to cooperate with Democrats, while Asian markets were mixed, with Chinese shares rebounding but Japan lagging on higher bond yields. The Democratic victory boosted safe-haven bonds and pressured the dollar to a one-month low, while oil prices fell over 8% on expectations of ending the Iran conflict. Russia and China expressed cautious optimism, and US private employment held steady in October.