Wall Street rallies as Dow jumps 1,569 points on Democratic Congress win

Wall Street rallied sharply Wednesday after Democrats won control of both chambers of Congress, with the Dow Jones surging 1,569 points, or 3.03%, to close at 53,356.12, its biggest single-day gain since April 2025. Investors bet a Democratic Congress would check President Trump’s policies, reducing uncertainty over tariffs and spending. The S&P 500 rose 1.58%, and the Nasdaq gained 1.44%, while crude oil prices plunged over 8% on relief over the Iran conflict. The rally followed initial selling as markets weighed the political shift. Democrats are expected to increase oversight of AI, tech, and digital assets, while trade and defence policy remain key watchpoints, though their influence over the White House is uncertain.