From Dollar to Stocks, Trump Trade Erupts Across Markets
- Stocks, dollar, Treasury yields and Bitcoin all spike higher
- Traders see tax cuts, deregulation boosting US growth
Photographer: Jim Watson/AFP/Getty Images
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Donald Trump quickly put his stamp on financial markets as his victory in the US presidential election propelled “Trump Trade” plays across assets.
US stocks surged, with S&P futures climbing 2.3%; the dollar posted its biggest gain against major currencies since 2020; Treasury bonds tumbled, sending benchmark yields up by almost 20 basis points; and Bitcoin soared to a record.