Stock market surges after Trump’s victory

The US stock market surged at the opening of trading after Trump’s victory was announced, with the Dow Jones recording a gain of over 1,300 points.

NEW: The U.S. stock market soared at the open of trading on Wednesday morning after former Pres. Trump’s projected victory in the 2024 election, with the Dow up more than 1,300 points. https://t.co/v38lmGEeqW

— ABC News (@ABC) November 6, 2024

The stock market opened positively after the surprising announcement of Trump’s victory in the presidential election, news which, far from upsetting the markets, seems to have supported them, at least for the time being.

The Dow Jones Industrial saw its shares rise 3% the morning after the election results were announced, while the Nasdaq and S&P 500 gained 2%.

Shares in DJT, Trump’s stockbroking company, recorded a 17% gain, while those in Tesla and Elon Musk climbed over 14%. Bitcoin also saw its value rise by over 7%.

In 2020, Trump warned that the stock market’s enormous growth under his presidency would collapse if voters replaced him with Joe Biden.

However, since Biden’s arrival in the White House, the US stock market has recorded even more spectacular rises, breaking several records.