'Blue wave' effect in markets

While the dominance of the Democrats' color, blue, in both houses of Congress, strengthened the expectation that Trump's room for action would narrow, especially regarding the Iran war, the increase in peace hopes brought about a sharp decline in oil prices. The decline in dollar and bond interest rates supported gold and stocks.

The decline in the geopolitical risk premium was felt most strongly in the oil market. The January forward price of Brent oil, which was $104.96 the previous day, decreased by 8.7 percent to $94.6, and continued its losses on the new day, falling to around $94. The recovery of shipments in the Strait of Hormuz also increased the pressure on prices. While the Democrats' victory brought buying into US bonds, the 10-year bond yield fell by 13 basis points to 4.85 percent. The dollar index also hit its lowest level in five weeks at 101.09. With the weakening of the dollar, an ounce of gold, which rose by 3.6 percent the previous day, gained nearly 1.9 percent in value on the new day, reaching around $4,140. Silver is traded at $53 per ounce with a 1.5 percent gain in value.

Risk appetite increased

Risk appetite increased on Wall Street after the election. Dow Jones gained 3.03 percent, S&P 500 gained 1.58 percent, and Nasdaq gained 1.44 percent. The rise in European stock markets reached around 2 percent. BIST 100 completed the day at 11,478 points, with an increase of 4.12 percent.