NEW YORK - U.S. stocks soared to record highs on Wednesday after Republican Donald Trump won the 2024 U.S. presidential election in a stunning comeback four years after he was voted out of the White House.The Dow Industrials, S&P 500 and Nasdaq Composite all hit record highs with investors expecting lower taxes, deregulation and a U.S.
Banks, expected to benefit from loosening regulations under Trump, powered the gains, with the S&P 500 bank index .SPXBK up about 10%, its biggest daily jump in two years.The small-cap Russell 2000 .RUTrallied more than 5% to a three-year high, with the domestically concentrated stocks seen as likely to benefit from easier regulations, lower taxesand less exposureto import tariffs.
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