U.S. stocks surge 3% as Democrats sweep midterms, Dow jumps most in 19 months

U.S. stocks surged on Wednesday, with the Dow Jones Industrial Average jumping 3.03% to close at 53,356.12, marking its largest one-day gain in about 19 months. The rally followed the Democratic Party's decisive victory in both chambers of Congress in the midterm elections, with President Trump accepting the results, easing political uncertainty and boosting investor sentiment. The S&P 500 rose 1.58% to 7,688.62, and the Nasdaq Composite gained 1.44% to 25,736.51. The Dow also reclaimed the 53,000 level for the first time in roughly two months.