US shares, Bitcoin hit record high and dollar soars on Trump win
www.bbc.com
The result could have a far-reaching implications for tax and trade policy, as well as economies around the world.

Summary

The U.S. dollar surged 1.5% and Bitcoin hit a record high after Donald Trump’s projected election victory, as markets anticipate pro-business policies, tax cuts, and inflationary pressures.

Global stocks also rose, with Japan’s Nikkei up 2.6% and Australia’s ASX 200 up 0.8%. Trump’s plans to make the U.S. a “cryptocurrency capital” and potentially increase trade tariffs, especially on China, are fueling market reactions.

Investors are now awaiting the U.S. Federal Reserve’s interest rate decision and China’s economic strategy announcement, as uncertainty looms over global trade and inflation.

  • Not_mikey@slrpnk.net
    13·
    1 month ago

    Investors are, however, betting that Trump’s plan to cut taxes and raise tariffs will push up inflation and reduce the pace of interest rate cuts.

    Higher rates for longer mean investors will get better returns on savings and investments they hold in dollars.

    So they are hoping we’ll get more inflation so they can get better returns on their bonds, and trump will spin this as good for the economy . Fuck finance, fuck Trump and fuck this shit country.