HONG KONG -- Share prices, bond yields and bitcoin surged Wednesday, November 6, 2024, 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 broad US 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 percent of the years where a Democrat was president and 70 percent of the years when a Republican was the nation’s chief executive, according to Sam Stovall, chief investment strategist at CFRA.
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