The Globe and Mail reports in its Thursday edition that over the past two years, the Trump administration's sweeping policy shifts in the absence of opposition from a Republican-controlled Congress repeatedly buffeted global markets, from tariffs to the Iran war. An unbylined item in The Globe says that on Wednesday, as investors digested a historic Democratic sweep in U.S. midterm elections, markets rallied. The Dow soared more than 1,500 points and the Toronto Stock Exchange posted its biggest daily gain since March 31. The reason for the market celebration -- a bet that gridlock in Washington will curb some of the worst-case outcomes in areas such as the Iran war, even though there were fresh worries, most notably about the backlash against AI infrastructure buildout that has driven economic growth and corporate profits. Global stocks rallied. The S&P/TSX Composite Index added 809.12 points to close at 36,341.40, its highest since Sept. 4. Treasuries rose as well, as investors expect divided government to curb government spending, with AI regulation also possibly slowing growth and reducing the need for rate hikes. Financials added 3.1 per cent, with shares of Fairfax Financial Holdings up 10.7 per cent.