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Dow Jones closes up 250 after U.S. election

Wednesday, November 09, 2016 - 00:40

U.S. stocks rise sharply in a dramatic turnaround from deep overnight losses as Wall Street digested the upset presidential election victory of Republican Donald Trump. Rough Cut (no reporter narration).

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ROUGH CUT (NO REPORTER NARRATION) STORY: U.S. stocks rose sharply on Wednesday (November 09) in a dramatic turnaround from deep overnight losses as Wall Street embraced the upset presidential election victory of Republican Donald Trump. After warning for months that a Trump White House would create uncertainty and damage sentiment, investors poured money into sectors that may benefit from the former reality TV show star's victory. That was a steep reversal from the previous night, when financial markets reacted violently as Democrat Hillary Clinton's path to victory disintegrated and S&P futures ESc1 dropped 5 percent before a trading limit kicked in. The Dow Jones industrial average jumped 1.4 percent to end at 18,589.69, just 0.25 percent below its all-time high set in August. The S&P 500 surged 1.11 percent to 2,163.26 and the Nasdaq Composite added 1.11 percent to end at 5,251.07. Trading volume was the highest since June, when Britain voted to abandon the European Union. Republicans maintained their majorities in both chambers of the U.S. Congress, potentially enabling the party to reshape Washington with two years of "unified" government. Wall Street is typically seen as preferring gridlock, or shared control of the White House and Congress, over a sweep of both chambers of Congress and the presidency.

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Dow Jones closes up 250 after U.S. election

Wednesday, November 09, 2016 - 00:40