Stocks, bond yields and bitcoin surge as Trump closes in on US election victory

Share prices, bond yields and bitcoin surged Wednesday as the Republican party gained control of the Senate and former President Donald Trump closed in on the 270 electoral votes needed to return him to the White House.The full results of Tuesday's election may not be known for days as officials count all the votes, but investors already were repositioning in anticipation of sweeping gains by the Republicans, who took control of the Senate for the first time in four years.

stock market has historically tended to rise regardless of which party wins the White House, even if each party’s policies can help and hurt different industries’ profits.Since 1945, the S&P 500 has risen in 73% of the years where a Democrat was president and 70% of the years when a Republican was the nation’s chief executive, according to Sam Stovall, chief investment strategist at CFRA.The S&P 500 has risen nearly 70% since the 2020 election brought President Joe Biden into office.

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