First results in US elections shook the markets: sharp decline in Nasdaq futures

Early results from the U.S. midterm elections, with Democrats posting initial gains, triggered a broad selloff across global markets. Nasdaq 100 futures fell as much as 1.8%, while the dollar and U.S. Treasury yields also declined. Investors are now focused on which party will ultimately control Congress, since the balance of power will shape the legislative outlook for the remainder of the term. Markets will watch final vote counts and seat tallies in key races for signals on spending, tax and regulatory direction.