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Markets cool after monster midterm rally as Musk's stocks dip
Wall Street futures mixed after the Dow’s biggest one‑day gain since April 2025, driven by a Democratic‑controlled Congress and falling oil prices. Oil settled lower after an 8% drop linked to the Iran war. Asian markets fell, Europe rose. President Trump said he can work with Democrats. Tesla and SpaceX fell over 3% following Musk’s $474 million election bet loss. Qualcomm shares dropped over 9% after weak Q4 smartphone chip sales, prompting analysts to cut price targets. Bitcoin hovered around $80,000 as crypto investors gauge political impacts.