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15 November 2018


Wall Street surge after US vote but dollar takes hit

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World stocks rose on Wednesday, with Wall Street surging after the U.S. midterm election a day earlier divided control of Congress, but the outcome, which casts doubt on further U.S. tax cuts, hit the dollar and sent Treasury yields lower.

Axar.az reports citing Foreign media that the Democrats looked headed for a gain of more than 30 seats in the House of Representatives, well beyond the 23 they needed to claim their first majority in eight years. With President Donald Trump’s Republican party holding on to its Senate majority, the results from Tuesday’s election were in line with expectations.

While gridlock in Washington could hamper Trump’s political and economic agenda, few expect a reversal of tax cuts and financial deregulation measures that have already been enacted.

Date
2018.11.07 / 23:33
Author
Axar.az
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