The US dollar and crude oil prices dropped on Wednesday as investors reacted to the Republican party losing control of Congress in the US midterm elections.
LONDON: The dollar and oil prices dropped on Wednesday as traders digested President Donald Trump’s heavy defeat in US midterm elections that saw his Republican party lose control of Congress.
Democrats seized control of both houses in a landslide victory that gives them the power to block legislation, launch investigations into Trump’s administration and thwart his judicial and senior government appointments.
“Investors are trying to get their heads around what a Democrat landslide means for financial markets,” noted Russ Mould, investment director at AJ Bell.
