The Dow Jones Industrial Average recorded its strongest daily performance in 18 months as investors weighed the impact of a new Democratic majority in Congress on geopolitical stability and energy costs.
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The Dow Jones Industrial Average recorded its strongest daily performance in 18 months as investors weighed the impact of a new Democratic majority in Congress on geopolitical stability and energy costs.
A stock-rotation trade fueled by the US midterm elections swept Asia, denting regional chipmakers and boosting unfavored markets from China to Australia. Oil extended its losses while Treasuries gained. Stocks surged, oil prices plunged and bond yields fell Wednesday on optimism around a quicker end to the Iran war now that Democrats have clinched control of Congress.
Bloomberg reported the story as "Post-Midterm Rotation Hits Chips, Boosts China: Markets Wrap."
2 sources have covered this story, including Bloomberg and MarketWatch. The earliest reporting in the cluster landed about 7 hours ago.
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[01] VerifiedCore event reported by 2 independent outlets across the spectrum.
[02] DisputedKey facts present in mainstream desks; corroboration thin from wires.