Dow Jumps 1,500 Points, Oil Slides After Democrats Sweep Congress -- WSJ

By Alexander Osipovich and Joe Stonor

U.S. stocks are surging as investors react to a blue wave that puts Democrats in control of both chambers of Congress.

The Dow jumped about 1,500 points, or 3%; the Nasdaq traded about 2% higher as stocks recovered from an off-hours slide when election results started rolling in. Microsoft, Amazon and Apple all jumped more than 6%.

The rebound followed comments by President Trump that he would accept the election results and that he looked forward to working with Democrats. Oil prices fell after Vice President JD Vance blamed Republican losses on the U.S.-Iran war.

A divided government suggests there will be little change in major economic policy areas such as AI regulation, since Democrats will have trouble passing legislation over a veto by Trump, analysts pointed out. Still, Republican defeats at the state level-including in Texas and Ohio's gubernatorial races-could imperil plans to build data centers.

U.S. Treasury yields fell, while the dollar is falling against the euro, Japanese yen and other currencies.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

November 04, 2026 12:07 ET (17:07 GMT)