A divided Congress could stall Trump's legislative agenda, restrict government spending and bring stricter AI regulations. Yet history offers some reassurance: the S&P 500 has posted gains in the 12 months following every midterm election since 1946.

US stock futures fell Wednesday as election results unsettled Wall Street. Nasdaq 100 futures dropped 2%, while the S&P 500 and Dow declined 1.2% and 0.8%, respectively. Semiconductor stocks provided a rare bright spot, with AMD climbing more than 3% after strong quarterly earnings, alongside gains in Super Micro and Arista.

Government bonds attracted fresh demand as weakness in AI and technology stocks pushed investors toward safer assets. The US 10-year Treasury yield slipped to around 4.9%, near an eight-week low, while Japan's equivalent held near 2.77%, close to its lowest level in three months. Political developments in Washington added to the shift toward bonds.

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