US stocks surge as Democrats win Congress, Dow jumps 1,500 points

Wall Street surged Wednesday as Democrats swept Congress, with the Dow Jones Industrial Average jumping 1,569.40 points, or 3%, to 53,356.12, its best post-midterm gain since 1982. The Nasdaq climbed 364.50 to 25,736.51, and the S&P 500 rose 1.6% to 7,688.62. Investors bet a divided government would curb Trump's agenda and pressure him to wind down the Iran war, sending Brent crude plunging 8.7% to $94.62. Consumer discretionary led gains, with Amazon up 7%, while Nvidia fell 3.1% and Trump Media sank 24.5%. Analysts noted political gridlock limits major tax and spending packages, and the S&P 500 has averaged 15.5% gains in six months after the last 14 midterms.