Wall Street Rides a "Blue Tsunami" as Democrats Seize Congress, Trump Party Loses Grip
Stocks surged and the Dow jumped nearly 1,600 points after the midterms, while analysts warn gridlock could stall tax and spending plans.
The Dow posted its biggest gain of the year after Democrats took back control of Congress, a shift that also saw President Donald Trump's party lose its sole control of Washington.
U.S. stocks surged on Wednesday, with the Dow climbing nearly 1,600 points according to CBS News and about 1,500 points per PBS News.
At the same time Brent oil slipped below $95 a barrel, while Wall Street analysts warned that political gridlock could curb Congress's ability to pass major tax and spending packages.
"ABC News political contributor Amanda Renteria, a Democratic strategist, and Ramesh Ponnuru, editor of the National Review, discussed what is being called a \"blue tsunami.\" This commentary highlights the dramatic shift in Washington.
Original reporting
CBS News
Dow posts biggest gain of the year after Democrats sweep Congress
The Dow soared nearly 1,600 points, as Wall Street analysts predicted that political gridlock would limit Congress's ability to pass major tax and spending packages.
Read the original →ABC News
WATCH: What to know after Democrats take back control of Congress
ABC News political contributors Amanda Renteria, a Democratic strategist, and Ramesh Ponnuru, editor of the National Review, share more about what's being called a "blue tsunami."
Read the original →PBS News
U.S. stocks surge, and the Dow soars 1,500 points as Brent oil's price drops below $95 per barrel
U.S. stocks are soaring Wednesday after President Donald Trump's party lost its sole control of Washington in the midterm elections.
Read the original →The Washington Times
Democrats retake Congress in blue wave that reaches deep into GOP territory
Washington Times national politics reporters Susan Ferrechio and Seth McLaughlin join George Gerbo to discuss what drove the results, why the wave could recede, and how Trump and congressional Republicans respond.
Facts this version was allowed to use
- The Dow posted its biggest gain of the year after Democrats won control of Congress in the midterm elections.
- The Dow rose nearly 1,600 points, according to CBS News.
- The Dow rose 1,500 points, according to PBS News.
- U.S. stocks surged on Wednesday.
- Brent oil's price dropped below $95 per barrel.
- President Donald Trump's party lost its sole control of Washington in the midterm elections.
- ABC News political contributor Amanda Renteria, a Democratic strategist, and Ramesh Ponnuru, editor of the National Review, discussed what is being called a "blue tsunami."
- Amanda Renteria is a Democratic strategist and ABC News political contributor.
- Ramesh Ponnuru is editor of the National Review.
- The National Review is a publication.
- ABC News is a news outlet.
- CBS News is a news outlet.
- PBS News is a news outlet.
- The midterm elections took place.
- Democrats took back control of Congress.
- Wall Street analysts predicted that political gridlock would limit Congress's ability to pass major tax and spending packages, according to CBS News.
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