Investors rushed to buy dollars, bitcoin, and stocks while selling off bonds after Donald Trump clinched a victory in the U.S. presidential election and Republicans secured control of at least one chamber of Congress. U.S. stock futures surged to record highs, the dollar strengthened, and Treasury yields jumped, while bitcoin soared past $75,000—a scenario many investors anticipated under a Trump victory.
Fox News projected Trump as the winner after he claimed critical swing states, including North Carolina and Georgia. Matthew Ryan, head of market strategy at Ebury, noted, “Markets are positioning themselves for a comfortable Trump victory… and a Republican-controlled Congress.”
Stocks favored by Trump’s tax-cut and deregulation promises led gains, with Tokyo’s bank stocks rising 4.4% and Asia-Pacific markets rallying in sectors likely to benefit from higher yields and growth. Tesla and Trump Media stocks also saw significant gains. However, tariff-sensitive assets like the Mexican peso fell sharply, as markets braced for potential trade conflicts.
Despite gains, some investors are preparing for more market turbulence ahead. Joe McCann, CEO of Asymmetric, commented from his Miami penthouse, “We are expecting a volatile night.”
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