Markets surge as Washington gridlock becomes likelier with potential Biden win

The U.S. stock indexes were buoyed on Wednesday, apparently responding to the increasing possibility of a Washington gridlock created by a potential Democratic White House and Republican Senate.The idea is that "gridlock can be good for stocks because it lowers the chances of sweeping policy changes, such as tax increases, that might hurt profits," The New York Times reports. The S&P 500 ended 2.2 percent higher in what was its biggest increase since June, and the tech-heavy NASDAQ-100 close