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US Markets Roar Following Trump’s Win: Dow Up 1,300 Points, Tesla Jumps 14%, S&P 500 and Nasdaq Reach Historic Peaks
The Republican’s win powered a rally in Trump trades, as U.S. Treasury yields surged, bitcoin hit a record high and the dollar gained. (Reuters File)
US Stock Market Today: US stocks rallied sharply Wednesday in response to Donald Trump’s election victory, with the Dow Jones Industrial Average leaping 1,300 points (3%)—its biggest gain since 2022. The S&P 500 climbed 2%, while the Nasdaq gained 1.8%. Small-cap stocks also saw a strong boost, with the Russell 2000 soaring 4% as investors bet on companies poised to benefit from Trump’s economic policies.
Tesla led the surge in tech stocks with a 13% jump, while major banks, including JPMorgan, Bank of America, and Wells Fargo, rose over 6%, boosted by expectations of favorable regulatory changes.
Bitcoin reached a new high of $75,000 amid excitement in the cryptocurrency space, and the dollar index strengthened to its highest point since July. Rising inflation expectations sent the 10-year Treasury yield up to 4.43%.
Trump Media & Technology Group saw significant gains as well, soaring 24% on investor optimism for Trump’s tech and media ventures.
Traders are anticipating a more business-friendly environment, including tax cuts and deregulation, which have historically been favorable for growth stocks and digital assets.
High Expectation
The S&P 500 and the Dow were expected to open at a record high on Wednesday, as Republican Trump won the 2024 US presidential election in a remarkable comeback four years after he was voted out of the White House.
Dow futures soared more than 1,300 points and those tracking the benchmark index inched closer to the psychologically significant 6,000 level.
Wall Street is anticipating the potential for lower taxes, deregulation and a U.S. president who is quick to sound off on everything from the stock market to the dollar.
The Republican’s win powered a rally in Trump trades, as US Treasury yields surged, bitcoin hit a record high and the dollar gained.
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