New York, Nov. 4 (Petra) -- U.S. stock indexes surged on Wednesday following a decisive victory by the Democratic Party in both chambers of Congress.

Meanwhile, crude oil prices fell amid relief over greater clarity in the political and legislative landscape. U.S. West Texas Intermediate crude dropped by more than $8 to $88.72 a barrel.

Shortly before the close of trading, the Dow Jones Industrial Average had gained more than 1,650 points, or over 3.25%.

The Nasdaq Composite rose by more than 400 points, or approximately 1.6%, while the Standard & Poor's 500 Index (S&P 500) advanced by more than 150 points, or over 1.5%.

//Petra// AF