BREAKING NEWS: Dow jumps 333 points, stocks rally as midterm votes roll in
, but whipsawing overnight for the second straight day as the U.S. midterm elections had finally arrived.
On the line is control of both houses of Congress, currently under Democratic leadership. Voters are also electing governors in most of the states. They’ll be in office in 2024 when the next presidential election happens and could affect election laws or vote certifications. Many state legislative and local authorities also are on the ballot.
Analysts say a strong performance by Democrats in the elections could lead to increased spending to help the economy that might fuel inflation and leave the Federal Reserve obliged to continue to hike interest rates to get prices under control. Meanwhile, Asian stocks were mixed Tuesday with trading likely to stay bumpy in a week that brings new inflation data and other events that could shake markets. Germany's DAX added 0.1% to 15,543.08, while the CAC40 in Paris slipped 0.4% to 6,390.14. In London, the FTSE 100 fell 0.4% to 7,274.37.
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