Democrats’ win sparked hopes of an end to the Middle East conflict, sending oil prices sharply lower. After-hours trading saw AppLovin jump over 20%, while Qualcomm lost more than 7%.

The dollar index slipped to around 101.3 as the election outcome lifted equities and reduced safe-haven demand. Expectations of political gridlock also lowered the perceived likelihood of further US strikes on Iran, adding pressure to oil prices.

US 10-year Treasury yields fell to 4.85%, their lowest in nearly two months, as cheaper oil eased inflation concerns and expectations of aggressive Fed tightening. Still, markets price a 79% chance of a December rate hike, putting Friday's US jobs report in focus.

Check out today's market updates!