Market data from financial sources such as Bloomberg or Reuters

Trump Reclaims Presidency; Dow Surges 1,200 Points, Bitcoin Hits Record High in Market Rally

Nov 6, 2024, 04:15 PM

Donald Trump has been reelected as President of the United States, securing a victory in the November 5th presidential election and marking the second time he has blocked a female opponent from becoming the first woman president. Following his win, Trump delivered a victory speech at Mar-a-Lago early Wednesday, promising sweeping action in his second administration. Over the past year, he has outlined a wide-ranging agenda through policy pronouncements and written statements. Financial markets reacted positively to the news, with stocks soaring across the board. The Dow surged by 1,200 points, and Wall Street experienced a significant rally. Bitcoin reached a record high, climbing past $75,000 as investors engaged in "Trump trades," anticipating potential regulatory easing and a boost for cryptocurrencies. Dogecoin also surged over 25%, reaching $0.2068. The risk-on frenzy extended to DeFi and memetokens, as investors positioned themselves for a second Trump White House. Trump's victory has impacted rate-cut expectations around the world, with yields climbing on the spending outlook. He is expected to seek out a different kind of judicial nominee during his second term.