US Stocks Rally on Democratic Midterm Win; AI Concerns Cap Gains

US equities opened sharply higher after the Democratic victory in the midterm elections, with the Dow up 2.3% and the Nasdaq and S&P 500 also advancing, as political uncertainty dissipated. However, gains are tempered by emerging concerns over AI regulation, and Elon Musk's companies underperform following his criticism of the results. The rally reflects a risk-on shift, but the AI overhang suggests a selective market response.

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