Major stock markets around the world rallied on Wednesday, while bitcoin hit a record high and the dollar was set for its biggest one-day jump in four years as Donald Trump was elected U.S. president
Major stock markets around the world rallied on Wednesday, while bitcoin hit a record high and the dollar was set for its biggest one-day jump in four years as Donald Trump was elected U.S. president.
Small cap U.S. stocks in particular were boosted by expectations that a Trump presidency would offer tax cuts and support domestic companies.
Though bond investors dumped long-dated Treasuries, betting that accompanying tariff hikes would increase the deficit and inflation, causing the Federal Reserve to cut rates by less than they otherwise would have, and potentially raising fears about the United States' fiscal position.
Trump, 78, recaptured the White House in Tuesday's election following a campaign that deepened the polarization in the country.
U.S. S&P and Nasdaq futures jumped more than 2% ESc1, 1YMc1, and those tracking the small cap Russell 2000 RTYcv1 soared 6%. The dollar index =USD rallied 1.4% and was set for its best day since March 2023.
The rally in U.S. stock futures and signs of a decisive result cheered equity markets, with European shares up 0.9% .STOXX as stock investors put aside worries about the impact of potentially higher tariffs for now.
It was a different story in emerging markets, where Mexico's peso sank to its weakest level in over two years.
"The market is definitely moving in line with the Trump playbook; stocks and small caps, in particular, are higher on the idea that Trump will be good for U.S. companies," said Seema Shah, chief global strategist for Principal Asset Management in London.
"Across emerging markets, you can see China and Europe are struggling with the idea that they could face higher tariffs, and U.S. bond yields higher with expectations for a higher fiscal deficit and inflation."
Three suicide bombers targeted the headquarters of a Pakistani paramilitary force on Monday, killing three personnel and wounding at least five, autho...
Turkish President Tayyip Erdoğan said he would have a phone call with his Russian counterpart Vladimir Putin on Monday to discuss peace efforts in Uk...
The United States and Ukraine were set to continue work on Monday on a plan to end the war with Russia after agreeing to modify an earlier proposal th...
Russian forces staged a "massive" drone attack on Sunday on Kharkiv, Ukraine's second-largest city, killing four people and injuring several others, o...
South Korean President Lee Jae Myung met with Chinese Premier Li Qiang and Japan's Prime Minister Sanae Takaichi during last weekend's G20 summit in S...
Donald Trump told reporters on Friday that he plans to take the BBC to court, accusing the broadcaster of altering his remarks in a way he says caused serious reputational harm.
Start your day informed with AnewZ Morning Brief: here are the top news stories for October 20th, covering the latest developments you need to know.
Abolishing mail-in ballots and voting machines is key to restoring election integrity ahead of 2026, according to U.S. President Donald Trump.
The U.S. Justice Department has opened a grand jury investigation into claims that former officials fabricated links between President Donald Trump and Russia.
The United States is preparing to launch a new round of Venezuela-related operations in the coming days, as President Donald Trump’s administration intensifies efforts to pressure President Nicolás Maduro’s government and targets what it calls Venezuela’s role in the regional drug trade.
Italy captured a remarkable third consecutive Davis Cup title on Sunday, with Matteo Berrettini and Flavio Cobolli securing singles victories in a 2-0 triumph over Spain in Bologna.
Cameras from the United States Geological Survey (USGS) on Saturday (November 22) captured Hawaii's Kilauea volcano spewing flowing lava from its crater in its latest eruption.
Air traffic at Eindhoven Airport in the southern Netherlands was suspended on Saturday evening after multiple drones were sighted near the facility, prompting the deployment of counter-drone systems and raising fresh alarm over airspace security in Europe.
Several international airlines have suspended flights from Venezuela after the U.S. Federal Aviation Administration (FAA) warned of heightened military activity and deteriorating security conditions in the country’s airspace.
Three suicide bombers targeted the headquarters of a Pakistani paramilitary force on Monday, killing three personnel and wounding at least five, authorities said.
Turkish President Tayyip Erdoğan said he would have a phone call with his Russian counterpart Vladimir Putin on Monday to discuss peace efforts in Ukraine, adding that he would also ask him to restart a deal for the safe passage of grains via the Black Sea.
The United States and Ukraine were set to continue work on Monday on a plan to end the war with Russia after agreeing to modify an earlier proposal that was widely seen as too favorable to Moscow.
Russian forces staged a "massive" drone attack on Sunday on Kharkiv, Ukraine's second-largest city, killing four people and injuring several others, officials said.
South Korean President Lee Jae Myung met with Chinese Premier Li Qiang and Japan's Prime Minister Sanae Takaichi during last weekend's G20 summit in South Africa, Lee's office on Monday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment