Global financial markets experienced significant shifts today as Donald Trump secured his return to the presidency, triggering substantial gains in the US dollar, Bitcoin, and Treasury yields while sending ripples through international currency markets.
The dollar index, measuring the greenback against six major currencies including the pound, euro and yen, climbed 1.4 percent, marking its strongest performance since March 2023. Bitcoin emerged as a standout performer, reaching an unprecedented high of $75,397 before settling at $73,767, representing a 6.1 percent increase during New York’s morning trading session.
The American equity markets responded positively to Trump’s victory, with the S&P 500 rising 2 percent to 5,929.25, while the technology-focused Nasdaq gained 1.6 percent to reach 20,671. The Dow Jones Industrial Average demonstrated particular strength, advancing 2.9 percent to 43,596.
Banking sector shares led the market rally, with JPMorgan Chase recording an 8.3 percent increase. The broader financial sector within the S&P 500 outperformed all other sectors, gaining 5.1 percent on expectations of reduced regulation under Republican leadership.
The triumph’s impact extended to Trump-affiliated enterprises, with Trump Media & Technology Group shares climbing 11 percent. The president-elect’s majority stake in the company has nearly tripled in value since September, now estimated at approximately $5 billion.
International currency markets reflected immediate concerns about Trump’s proposed trade policies, particularly his threat to impose comprehensive import tariffs. The British pound declined 1.1 percent against the dollar to $1.29, while other major currencies experienced similar downward pressure.
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