US Stock Market Surges to Record Highs Following Trump's Election Victory
Following Donald Trump's victory in the US presidential election, all three major US indexes hit record highs on Wednesday, with the Dow Jones Industrial Average reaching an intraday high of 43,570, the SP 500 climbing 2% to over 5,900, and the Nasdaq rising 2% to a record 18,861. The financial, energy, and industrial sectors were the biggest winners, with notable stocks such as Goldman Sachs, Oracle, Bank of America, and Tesla reaching all-time highs. The surge in the stock market resulted in several billionaires, including Elon Musk and Larry Ellison, seeing significant net worth gains. The rise in the stock market is attributed to anticipation of stronger domestic growth, increased MA activity, and hopes of lower corporate taxes. Additionally, American Express, Bank of America, and Tesla reached their highest share prices in at least 12 months, and bitcoin rose while the dollar experienced its highest single-day jump since 2016.
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