S&P 500 sector performance reports

Republican Donald Trump Re-Elected as President, Markets Rally to Record Highs Amid Unclear Races

Nov 6, 2024, 08:20 PM

Republican Donald Trump has been re-elected as the President of the United States, four years after being voted out of office. His victory has had a significant impact on global markets, with Wall Street's main indexes soaring to record highs and the pan-European STOXX 600 index jumping over one and a half percent. Stocks that could benefit from a Trump presidency, known as 'Trump Trades,' led the market rally. Trump has promised sweeping action in his second administration. However, soaring bond yields threaten to dampen the positive market sentiment, and the outcomes of other hotly contested races remain unclear as election officials continue to tally votes.