U.S. Futures Fall as Democrats Gain in Midterms

U.S. stock futures fell as early midterm results showed Democrats making gains, and investors assessed the possibility of the party taking control of Congress. The Fox News Decision Desk projected Democrats would control both the House and Senate, but Senate control remained unresolved in other reports as competitive races were still being counted. Futures tied to the S&P 500 were down between 0.5% and 1.3% in reports taken at different points in the trading period. Nasdaq futures fell between 0.5% and more than 2%, while Dow futures also declined. The figures reflect changing market snapshots, not a final session close. In North Carolina, Democrat Roy Cooper defeated Republican Michael Whatley, flipping a Republican-held Senate seat, according to reports citing the result. Democrat Jon Ossoff won re-election in Georgia, and Mark Warner won re-election in Virginia. Those results did not settle control of the Senate; Democrats needed four net gains to take the chamber, and other competitive races remained undecided. The market moves coincided with a weaker U.S. dollar and lower Treasury yields. The 10-year Treasury yield was reported down six basis points at 4.906%. The dollar...