Major US stock indexes moved in different directions on Tuesday, the day of the midterm elections. Technology shares steadied after recent losses, with Apple the notable exception, while industrial stocks that had recently attracted investor demand came under slight pressure early in trading.
The Dow Jones Industrial Average fell 0.6% to 51,652 points. The S&P 500 was slightly higher at 7,561, and the Nasdaq Composite gained 0.7% to 25,337. The Nasdaq had closed more than 10% below its record high on Monday, putting it in correction territory. The Nasdaq 100, which tracks the 100 largest non-financial companies by market capitalization, had also entered a correction.
The first midterm election results were expected overnight into Wednesday, though the final outcome could take days if races are close. Voters are deciding the makeup of Congress, as well as dozens of governor’s offices and state and local positions, alongside ballot measures covering issues including taxes on billionaires and abortion rights.
Polls suggested Democrats could take control of the House of Representatives from Republicans, while the outcome in the Senate remained uncertain. The election results will shape how freely Donald Trump can govern during the remaining two years of his presidency.
Sources: Handelsblatt.