Major stock indices soared Wednesday morning in the wake of Donald Trump's decisive victory in Tuesday's presidential election. When markets opened at 9:30 a.m., the S&P 500 was up 2%, while the tech-heavy Nasdaq climbed at about the same pace%. The Dow Jones Industrial Average gained 1,300 points, or 3.2%. The last time the Dow, which represents larger, more established firms, saw a 1,000 point-jump in a single day was November 2022.
' Shares in major banks, which are often the beneficiary of increased M&A activity, saw large increases, with JP Morgan up 6.8%, Bank of America up 6.6%, and Wells Fargo up 11%. The gains also trickled down to the Russell 2000 index, which represents smaller companies. That benchmark jumped 4%.
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