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."
Democrats are growing increasingly discouraged about the direction of their party, according to a new AP-NORC poll released six months after Donald Trump returned to the presidency.
President-elect Donald Trump picked prominent investor Scott Bessent to take on the role of U.S. treasury secretary.
"A defeat does not mean we're defeated," US President Joe Biden told disappointed Democrats after Donald Trump's election win. He urged Americans to "bring down the temperature."
Mexican President Claudia Sheinbaum congratulated Donald Trump on his election victory, calling for dialogue and respect for sovereignty. She expressed confidence in strong U.S.-Mexico relations and reassured the public despite market instability.
Elon Musk stands to gain from his ties to President-elect Trump, with Tesla shares surging post-election. Trump's policies, including deregulation and tariffs on Chinese imports, could benefit Musk’s businesses, including Tesla and SpaceX.
Protey, a Russian telecom equipment developer, installed 4G mobile network systems in Afghanistan last year, a development reported by the Vedomosti business newspaper on Thursday. The systems are designed to provide mobile services for an estimated 10 million people.
Ahead of the IAEA meeting in Vienna, Iran’s foreign minister reaffirmed the country’s refusal to halt uranium enrichment and warned Europe against seeking renewed UN sanctions, calling such efforts a “major strategic mistake.”
The European Union and Ukraine are negotiating a new agreement on agricultural import quotas, aiming to find a balance between pre-war trade limits and the temporary exemptions granted after 2022.
Eid al-Adha, known as the "Festival of Sacrifice," stands as one of Islam's most significant celebrations, commemorating Prophet Ibrahim's willingness to sacrifice his son in obedience to Allah's command.
A U.S. federal judge has temporarily blocked President Donald Trump’s attempt to bar foreign students from attending Harvard University, following a legal challenge filed by the institution.
As peace talks progress, voices from Yerevan, Tbilisi, and Baku reveal hopes, concerns, and expectations for a future shaped by trade, trust, and generational change in the South Caucasus.
A bridge collapse in the Vygonichsky district of Russia’s Bryansk region, near the Ukrainian border, caused a train derailment and a traffic accident early Sunday, killing at least seven people and leaving 30 injured, according to emergency services.
Ukraine’s Security Service (SBU) has confirmed it carried out a third targeted attack against the Crimean Bridge, also known as the Kerch Bridge, early Tuesday morning, marking a new escalation in the ongoing conflict with Russia.
A strong 6.3 magnitude earthquake shook Japan’s Hokkaido prefecture early Monday, causing no reported injuries or damage, and no tsunami warning was issued, officials confirmed.
Federal authorities have arrested 14 suspects in Los Angeles linked to an Armenian organized crime ring accused of stealing $30 million in COVID relief and Small Business loans intended to support American taxpayers.
Protey, a Russian telecom equipment developer, installed 4G mobile network systems in Afghanistan last year, a development reported by the Vedomosti business newspaper on Thursday. The systems are designed to provide mobile services for an estimated 10 million people.
The European Union and Ukraine are negotiating a new agreement on agricultural import quotas, aiming to find a balance between pre-war trade limits and the temporary exemptions granted after 2022.
Eid al-Adha, known as the "Festival of Sacrifice," stands as one of Islam's most significant celebrations, commemorating Prophet Ibrahim's willingness to sacrifice his son in obedience to Allah's command.
A U.S. federal judge has temporarily blocked President Donald Trump’s attempt to bar foreign students from attending Harvard University, following a legal challenge filed by the institution.
Chinese Premier Li Qiang and Canadian Prime Minister Mark Carney held talks to improve bilateral ties, pledging renewed dialogue and cooperation. Despite recent tensions, both leaders expressed interest in pragmatic engagement and resolving key issues through open communication.
Protey, a Russian telecom equipment developer, installed 4G mobile network systems in Afghanistan last year, a development reported by the Vedomosti business newspaper on Thursday. The systems are designed to provide mobile services for an estimated 10 million people.
Ahead of the IAEA meeting in Vienna, Iran’s foreign minister reaffirmed the country’s refusal to halt uranium enrichment and warned Europe against seeking renewed UN sanctions, calling such efforts a “major strategic mistake.”
The European Union and Ukraine are negotiating a new agreement on agricultural import quotas, aiming to find a balance between pre-war trade limits and the temporary exemptions granted after 2022.
Eid al-Adha, known as the "Festival of Sacrifice," stands as one of Islam's most significant celebrations, commemorating Prophet Ibrahim's willingness to sacrifice his son in obedience to Allah's command.
A U.S. federal judge has temporarily blocked President Donald Trump’s attempt to bar foreign students from attending Harvard University, following a legal challenge filed by the institution.
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