As investors begin to plan for the potential impact of Donald Trump's return to the White House on policies affecting the market, Bitcoin and U.S. stocks have hit all-time highs, bond yields have surged, and the dollar has seen its largest increase since 2020.
The S&P 500 index rose 1.95%, poised to achieve its 48th all-time high this year.
Shares of Trump Media & Technology Group rose 11%, while Tesla soared 13%. Wall Street's "fear index"—the VIX—plummeted significantly, marking the largest drop since August, down to around 16 points. Trading volume in the S&P 500 surged, exceeding the average of the past month by 155%.
Bitcoin has reached an all-time high, briefly surpassing $75,000.
"The biggest takeaway from last night is that the market got the certainty it craved," said Ryan Grabinski of Strategas. "This will boost confidence among businesses and consumers.
The focus should now shift to tomorrow's Federal Reserve meeting. The yield on the 10-year Treasury is nearing 4.5%, a level where risk assets have struggled over the past 24 months.
