Wall Street rallies as Trump and Musk stocks plunge

Wall Street rallied sharply following Democratic gains in Tuesday's midterm elections and a steep drop in oil prices, with major indices posting significant gains. Health insurance and care company stocks rose, while companies tied to President Donald Trump and Elon Musk fell sharply. The Dow Jones Industrial Average climbed 3.0 percent, heading for its best day since April last year, while the S&P 500 and Nasdaq both rose 1.7 percent. Health insurers benefited from expectations of more Democratic policies, and major tech firms like Alphabet, Amazon, and Microsoft gained between 4.1 and 7.1 percent. Trump Media & Technology Group, which owns Truth Social and is controlled by the president's family, plunged 23.4 percent. The market moves reflect investor optimism about the election outcome and lower energy costs.