By DAMIAN J. TROISE and STAN CHOE
The Dow Jones Industrial Average was up 465 points, or 1.4%, at 33,292, as of 3:33 p.m. Eastern time, and the Nasdaq composite was 0.9% higher. A Republican win could also introduce its own risks that show themselves over time. For one, it could mean any help for the economy from Congress in the event of a possible recession would be less likely to pass and weaker than it would otherwise be under a Congress controlled by Democrats.
“It will continue to be front and center until we are out of the woods from this high inflationary environment,” said Bill Merz, head of capital market research at U.S. Bank Wealth Management. “The Fed doesn’t even know how far they need to go, certainly nobody else does.”
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