Posted: Thursday, November 7, 2024. 1:30 pm CST.
By Zoila Palma Gonzalez: Today, global markets rallied as Donald Trump’s victory in the U.S. presidential election sparked a surge in U.S. stock futures, the dollar, and bitcoin.
Investors bet that a Trump presidency would bring tax cuts and support for domestic companies, driving small-cap stocks up 6%.
The S&P 500 and Nasdaq futures gained more than 2%, while the dollar surged 1.4%, marking its biggest daily jump in over a year.
Bitcoin hit a record high of $75,397, up 7% on the day, as Trump’s win was seen as favorable for cryptocurrencies.
However, bond markets reacted with concern, dumping long-dated U.S. Treasuries as fears grew over higher tariffs, a potential fiscal deficit, and inflation, which could limit future Federal Reserve rate cuts.
According to Reuters, the yield on 30-year Treasuries rose sharply to 4.66%, its biggest increase since March 2020.
European markets showed mixed reactions, with shares up 0.9%, but concerns over potential trade tensions and geopolitical risks under Trump weighed on the outlook for European growth.
In emerging markets, Mexico’s peso hit a two-year low, reflecting fears of higher tariffs and economic uncertainty under the new U.S. administration.
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The post International News: US stock futures, dollar, and Bitcoin surge as Trump wins presidency appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Thursday, November 7, 2024. 1:30 pm CST. By Zoila Palma Gonzalez: Today, global markets rallied as Donald Trump’s victory in the U.S. presidential election sparked
The post International News: US stock futures, dollar, and Bitcoin surge as Trump wins presidency appeared first on Belize News and Opinion on www.breakingbelizenews.com.
