Stocks wilt, dollar slides as early midterm results point to blue sweep

Early midterm returns are pointing toward a Democratic sweep of Congress, and U.S. equities declined while the dollar weakened as the headline spread through trading. The transmission runs mainly through policy expectations: a unified Democratic government would raise odds of higher corporate tax rates, tighter tech regulation, and a less accommodating fiscal stance, which weighs on growth-sensitive equities and lowers the dollar's yield-driven appeal. The Nasdaq 100 and AMD are most exposed given their sensitivity to regulatory risk and higher-beta semiconductor cycles, while the KOSPI carries exposure through its chip-linked earnings and its dependence on U.S. demand. The dollar's decline against the euro and sterling reflects both reduced political-premium support for U.S. assets and shifting rate-differential expectations. Traders will watch the final certified House and Senate counts and any Senate seat outcomes still pending, alongside the next U.S. CPI print, to judge whether policy repricing persists.

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