Renewables Stocks Soar as Democrats Sweep U.S. Congress

Renewable energy stocks rallied in Asia and Europe on Wednesday as Tuesday’s mid-term elections in the United States resulted in a sweeping victory for the Democrats, who took control of both the House and Senate. The “blue wave” of the elections turned into a “blue trade” in equity markets, where renewable energy stocks soared at opening in many Asian and European markets. Investors are betting that Democrats would favor renewable energy, unlike President Donald Trump, who has been openly hostile to clean energy in…