Updated

Democrats won sweeping victories in the U.S. midterm elections, flipping key Republican-held seats in Congress and delivering a rebuke to President Trump. CNBC reported that the results were the main story on Wednesday, with the victories widely seen as a setback for the Republican Party. Equity futures sold off overnight on the election results, and Treasury yields fell on Tuesday night as investors sought the relative safety of bonds. CNBC reported that exit polls showed voter concern about government corruption and the growing influence of billionaires, and that Elon Musk's spending may have become a liability for tech billionaires.