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

former President Donald Trump closed in on the 270 electoral votes needed to return him to the White House.

The price of bitcoin jumped nearly 8% to a record $75,345.00, as investors bet on a victory for Trump, who has pledged support for cryptocurrencies. It later fell back to $74,520.00. In early European trading, Germany's DAX climbed 1.3% to 19,503.40, while the CAC 40 in Paris advanced 1.9% to 7,550.36. Britain's FTSE 100 was up 1.4% at 8,285.06.

The broad U.S. 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. The economy was a key issue for inflation-weary U.S. voters who chose Trump this time around, though mainstream economists have said Trump's policy proposals would make inflation worse.Trump has also vowed to sharply raise tariffs on imports from China and other countries, darkening the outlook for Chinese exporters at a time when Beijing has relied heavily on ramping up manufacturing to try to revive its slowing economy.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

European stocks surge higher, following US lead as Trump nears victoryEuropean stocks surge higher, following US lead as Trump nears victory
Bron: Investingcom - 🏆 450. / 53 Lees verder »

Stocks, bond yields and bitcoin surge as Trump closes in on US election victoryThe broad U.S. 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.
Bron: ABC7 - 🏆 67. / 68 Lees verder »

Trump versus Harris: What the November election means for defense stocksRising geopolitical tensions could be a catalyst for defense stocks, with a few caveats including the U.S. election.
Bron: CNBC - 🏆 12. / 72 Lees verder »

Bank stocks are trouncing the market in October on Trump optimism'A Republican win would likely be viewed most positive for bank stocks,' a Bank of America analyst said.
Bron: CNBC - 🏆 12. / 72 Lees verder »