New Delhi: A day after Donald Trump’s resounding victory in the US Presidential elections, Wall Street hit an all-time high, the dollar saw a massive surge and so did Tesla and Bitcoin.
Not only did Wall Street march to record heights, but major stock markets around the world also surged. Bitcoin hit an all-time high and the dollar saw its biggest rise in the last four years after Trump was elected as the 47th President.
“In the near term, we see US equities supported by solid economic and corporate earnings growth, political clarity, and Federal Reserve rate cuts,” BlackRock Investment Institute said.
“For the longer term, much will depend on how much of Trump’s agenda is enacted.”
The VIX, a measure of volatility also perceived as “Wall Street’s fear gauge,” dived 19 percent as investors scooped up risky assets across the board.
Tesla, owned by Trump supporter Elon Musk, also saw a 13 percent rise.
The world markets started reacting positively on Wednesday, and soon after the results trickled in, as the US dollar surged to the biggest rally since March 2023.