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Wall Street rallies and oil falls after US midterm elections
Stocks rose and oil fell after the US midterms, outlets report, as Democrats won Congress and traders weighed hopes of an exit from the Iran war.
What happened
US stocks finished higher after the midterm elections, with Reuters reporting that Wall Street closed up once Democrats won Congress. AP News said the Dow jumped 1,500 points as oil prices tumbled.
Oil fell sharply during the session. The Financial Times reports crude dropped below $100 on hopes for peace after the vote, while Reuters links the slide to an election rebuke of Trump that raised bets on an exit from the Iran war.
CNBC reported earlier that the 10-year Treasury yield slid as traders digested the Democratic victories, and that oil prices were lower. Reuters also noted that data center stocks tumbled.
Context
Midterm elections can shift expectations about policy and the balance of power in Washington, and investors often reassess assets such as bonds, energy and equities in response.
Why it matters
The moves in oil, Treasury yields and equities show how the election result and expectations around the Iran conflict were feeding into broad market sentiment.
Market indices
Latest close of the ETFs that track the main US indices (SPY, QQQ, DIA), from ATLAS data.
S&P 500 (SPY): 754.35 (+0.30%) · November 3
Nasdaq-100 (QQQ): 685.28 (+0.62%) · November 3
Dow Jones (DIA): 517.06 (−0.44%) · November 3
Sources
ATLAS writes its own summaries from the reporting of these outlets. Each link opens the original publisher.
- 10-year Treasury yield slides as traders mull over Democrats' midterm victories, oil prices drop · CNBC · November 4, 2026
- Oil tumbles below $100 on post-election peace hopes · Financial Times · November 4, 2026
- Oil slumps after midterm election rebuke to Trump raises bets on Iran war exit · Reuters · November 4, 2026
- Stocks surge, and the Dow soars 1,500 points as oil prices tumble following the US midterm elections · AP News · November 4, 2026
- Wall Street ends higher after Democrats win Congress; data center stocks tumble · Reuters · November 4, 2026
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