The three major U.S. stock indexes all rose; the Dow Jones surged 3%, notching its largest gain in 18 months, while oil and gold prices saw sharp movements.

According to data from the BIT Stock Platform, all three major U.S. stock indexes rose at Wednesday’s close. The Dow Jones Industrial Average gained 3.10%, marking its largest single-day percentage gain in 18 months; the S&P 500 rose 1.65%, and the Nasdaq added 0.97%. Affected by the Democratic Party taking full control of Texas, AI-related stocks saw broad declines. In the optical module sector, Marvell (MRVL) fell 7.08%, Lumentum (LITE) dropped 7.85%, and Coherent (COHR) declined 5.98%. Neocloud stocks also weakened: Cipher Digital (CIFR) fell 19.95%, IREN dropped 11.24%, CoreWeave (CRWV) declined 9.90%, and Nebius (NBIS) fell 6.67%. Storage stocks pulled back across the board: Seagate (STX) dropped 8.13%, SanDisk (SNDK) fell 7.91%, Micron (MU) declined 7.00%, Western Digital (WDC) dropped 6.77%, and SK Hynix’s U.S. ADR (SKHY) fell 5.12%. Stocks linked to Elon Musk—who was jokingly called “betting his entire net worth on Trump” by media—also fell: SpaceX (SPCX) dropped 3.81%, and Tesla (TSLA) declined 3.34%. Driven by factors including negative news being priced in and reports that the Democratic Party also aims to advance the CLARITY Act, the entire crypto market rebounded. Bitcoin rallied more than 7% from its intraday low, Ethereum jumped nearly 10%, driving a broad rebound in altcoins. Crypto-related stocks rose: BitMine (BMNR) gained 5.85%, Strategy (MSTR) added 5.09%, and Coinbase (COIN) rose 4.16%. Gold and oil showed divergent trends: Gold continued to strengthen, while oil prices plummeted. Gold (XAU/USD) rebounded from around $3,940 to hold above $4,000, briefly hitting a range of $4,060 to $4,090, with an intraday gain of 3% to 4%. For crude oil, WTI fell from around $96 to roughly $88, and Brent dropped from around $104 to between $94 and $95, with an intraday decline of 8% to 10%.