US stock index futures rose on Wednesday as ‌investors assessed the Democrats' sweeping victories in the midterm elections.

Democrats took control of both the Senate and House, scoring victories in Republican strongholds for the first time in generations as tens of millions of ​voters delivered a scathing rebuke to President Donald Trump.

Elon Musk's SpaceX, Tesla dropped about 4%; Trump Media & Technology fell nearly 7%.

The results will usher in ​a new era of divided government in Washington, following two years in ⁠which the Republican-controlled Congress rarely exercised its power to rein in Trump.

Global stocks swung between ​gains and losses as investors weighed the prospects of tougher regulation, higher taxes and oversight ​of areas such as AI and cryptocurrencies.

"The significance of these midterm elections is more like a referendum on AI than a referendum on Trump. If the AI theme is subject to some restrictions, ​then the US economy, US inflation, and US monetary policy all become very, very ​uncertain," said Aidan Yao, senior investment strategist for Asia at the Amundi Investment Institute.