American stocks tied to the state of the US economy, such as banks and the country’s biggest technology stocks, including chipmaker Nvidia and Elon Musk’s Tesla, have rallied since Donald Trump’s victory.
The victory lap sent major stock markets, the Dow Jones Industrial Average, S&P500 and the tech-heavy Nasdaq to
new highs, rising 3.6%, 2.64% and 2.95% respectively, the best post-election day in US history.
Bitcoin’s price continued to rise, past a new all-time high of US$76,000.
“This is what the markets want, certainty, and this has been a very decisive win for Trump and also the Republicans,” Tiger Brokers chief strategy officer Greg Boland told Markets with Madison.
Following US elections, the S&P500 has risen by 16.4% on average one year later, according to data from Morningstar Direct Edward Jones dating back to 1984.
