New York, Stocks are rallying Tuesday as Election Day finally arrives after a punishing campaign that created enough uncertainty to help send markets spinning, AP reported.
The S&P 500 was 2.3% higher in morning trading and heading for a second straight gain.
The Dow Jones Industrial Average was up 671 points, or 2.5%, at 27,596, as of 10:25 a.m. Eastern time, and the Nasdaq composite was 2.1% higher.
Stocks overseas also rallied Tuesday, while Treasury yields were rising in another sign of lessened pessimism.
A gauge of fear in the U.S. stock market, which measures expected volatility for the S&P 500, fell 6.2% and continued its decline following last week’s jump to its highest level since June.
In European stock markets, France’s CAC 40 rose 2.2%, and Germany’s DAX returned 2%. The FTSE 100 in London gained 2.2%.
In Asia, South Korea’s Kospi rose 1.9%, Hong Kong’s Hang Seng gained 2% and stocks in Shanghai climbed 1.4%.
The yield on the 10-year Treasury rose to 0.87% from 0.84% late Monday.
Source: Saudi Press Agency