Stocks and other financial assets are surging after Donald Trump was projected as the winner of the U.S. presidential election and the Republican party gained control of the Senate.The Dow Jones Industrial Average shot up more than 1,200 points, or nearly 3%, in early trading Wednesday, while the broader S&P 500 and tech-heavy Nasdaq Composite each gained more than 2%.Many investors expect Trump's victory to lead to faster economic growth and more market-friendly policies.
economist at Oxford Economics, expects a Republican-led Congress to extend personal tax cuts passed in 2017 during the first Trump administration, while also pushing up federal spending. President-elect Trump is also likely to use 'his presidential powers to reduce immigration and impose targeted tariffs on China, Mexico, Canada and the European Union,' Sweet told investors in a report.
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