However, concerns about inflation and higher interest rates emerged, leading to a decline in Treasury bond prices and European stock markets.
But Republican control could mean big shifts in the winners and losers underneath the surface, and investors are adding to bets built earlier on what the higher tariffs, lower tax rates and lighter regulation that Trump favours will mean.“The markets are scrambling to figure out what happens next, but for the time being, the market is pricing in a higher growth and higher inflation outlook,” Peter Esho of Esho Capital said.“The rationale behind the US stock market rally is that Trump is seen as business-friendly and will be able to pass his tax cuts through easily without much resistance from the Democrats, who have lost control of the Senate,” said City Index and FOREX.com analyst Fawad Razaqzada.Briefing.com analyst Patrick O’Hare said Trump’s policies, “which feature lower tax rates and deregulation among the cornerstones, are being heralded by the stock market as pro-growth policies that will be a boon for corporate profit growth”.
The Dow Jones Industrial Average was up 1,292 points, or 3.1 per cent, as of 9:35am.
The story "Stocks, bitcoin soar after Trump’s victory, while inflation worries rise; Dow surges 1,200" has 294 words across 7 sentences, which will take approximately 2 - 3 minutes for the average person to read.
Which news outlet covered this story?
The story "Stocks, bitcoin soar after Trump’s victory, while inflation worries rise; Dow surges 1,200" was covered 2 hours ago by SCMP, a news publisher based in Hong Kong.
How trustworthy is 'SCMP' news outlet?
SCMP is a fully independent (privately-owned) news outlet established in 1903 that covers mostly business news.
The outlet is headquartered in Hong Kong and publishes an average of 14 news stories per day.
It's most recent story was published 2 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
