World Shares Mostly Gain After US Elections

World shares are mostly higher though heavy selling of artificial intelligence-related stocks offset gains for some markets following the U.S. midterm elections. South Korea’s Kospi sank 5.3% and the Nikkei 225 in Tokyo lost nearly 2% on Thursday. Oil prices fell and U.S. futures were mixed after the Dow industrials jumped more than 3% on Wednesday after the Republican Party lost control of the U.S. Congress in the midterm elections. The S&P 500 picked up 1.6% and the Nasdaq composite rose 1.4%. U.S. stocks usually climb following midterms regardless of who wins. But technology shares have taken a hit as investors mull the potential impact on the AI boom from a Congress led by Democratic Party lawmakers.