In the U.S. midterm elections, Democrats swept both the House and Senate, winning the Senate 54–43 and flipping a net seven seats. Even Texas and Kansas turned blue. Trump himself said his opponents had done a good job.
The key point is that the early-morning sell-off was driven by the election results. As votes were being counted, markets worried that Democrats would tighten regulation of AI, tech, and crypto. BTC briefly fell to 75,700, while Nasdaq futures dropped more than 2% at one point.
But the bad news was quickly priced in: a divided Congress means policy will be constrained, easing concerns about fiscal expansion. U.S. Treasury yields fell 6 basis points, the dollar index slipped to 101.34—a one-month low—and gold rose about 2.4%, topping 4,000. BTC rebounded to around 78,000.
The standout was China’s A-share market 🔥, which surged straight up in the afternoon. The ChiNext Index gained 6.4%, the STAR 50 rose 9.9%, and the Shanghai Composite climbed 2.16%. Turnover across the two exchanges reached 2.04 trillion, with more than 4,600 stocks advancing. Semiconductor, memory-chip, and precious-metal stocks led the gains, supported by data showing global Q3 chip sales rose 24% quarter over quarter.
The key point is that the early-morning sell-off was driven by the election results. As votes were being counted, markets worried that Democrats would tighten regulation of AI, tech, and crypto. BTC briefly fell to 75,700, while Nasdaq futures dropped more than 2% at one point.
But the bad news was quickly priced in: a divided Congress means policy will be constrained, easing concerns about fiscal expansion. U.S. Treasury yields fell 6 basis points, the dollar index slipped to 101.34—a one-month low—and gold rose about 2.4%, topping 4,000. BTC rebounded to around 78,000.
The standout was China’s A-share market 🔥, which surged straight up in the afternoon. The ChiNext Index gained 6.4%, the STAR 50 rose 9.9%, and the Shanghai Composite climbed 2.16%. Turnover across the two exchanges reached 2.04 trillion, with more than 4,600 stocks advancing. Semiconductor, memory-chip, and precious-metal stocks led the gains, supported by data showing global Q3 chip sales rose 24% quarter over quarter.