Following Donald Trump’s victory in the US presidential election, Wall Street and bitcoin reached new all-time highs, while the dollar surged. Renewable energy stocks, however, experienced a decline.
Trump secured the necessary 270 electoral votes to win the presidency on Wednesday morning. The Republicans also gained control of the Senate, granting Trump significant authority to implement tax cuts and tariffs on imports.
As trading commenced in New York on Wednesday, major indices like the S&P 500, Dow Jones industrial average, and Nasdaq composite all achieved record levels with gains ranging from 2.1% to 3.1%.
The surge in markets was attributed to what analysts dubbed as “the Trump trade,” characterized by optimism and excitement following his victory.
Despite revealing substantial quarterly losses, shares of Trump Media & Technology Group initially soared by up to 30%, reflecting market volatility.
2024-11-06 13:04:32
Source from www.theguardian.com
