The mid-term election results had fuelled concerns that greater control by Democrats could provide a less business-friendly atmosphere in Washington, particularly for defence, drugs, oil and insurance industries. Military contractors were among the biggest fallers, with Lockheed Martin, Raytheon and Halliburton among the key losers.
Elsewhere, Defence Secretary Donald Rumsfeld's resignation was a key factor in the Dow closing at record highs - as was a jump in technology stocks.
BBC
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