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US stock markets and bitcoin soar to new record highs in response to President Trump's election victory

US stock markets and bitcoin soar to new record highs in response to President Trump's election victory

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Bitcoin and Ether, major cryptoassets, saw significant price increases, with Bitcoin reaching an all-time high of $75,000 and Ether nearing $2,600. Wall Street's stock indices also reached fresh record highs, with the S&P 500 rising 2.5% and the Dow Jones industrial average increasing 3.6%. The dollar index soared 1.7% on the Republican victory in the Senate, while the sterling fell 1.2% to $1.29, its lowest level since July. Renewable energy stocks came under pressure, while financial firms, oil and gas, and industrial sectors received a boost.

Donald Trump
Republican Party
1. The US will be the crypto capital of the world.
Nicolas Bickel
Edmond de Rothschild
1. Tax cuts, customs tariffs, immigration policy, which will certainly have an impact on labor costs, will encourage price rises, which could push 10-year rates up to 4.5%.
Samy Chaar
Lombard Odier
1. Trump will do everything in his power to favor the US, at the expense of others - that's his identity.
2. US equities are therefore very well placed. For European equities, it will depend on the majority in the House of Representatives, which could constrain this Trump identity.
Deutsche Bank
1. A potential unified government under President Trump would have the greatest degree of freedom for fiscal policy and would likely be the most dollar bullish outcome. But even without control of Congress, a Trump victory would be decidedly dollar bullish via the impact of tariffs.
Mabrouk Chetouane
Natixis
1. European markets are being caught up in US stock market euphoria.
James Knightley
ING bank
1. However, promised tariffs, immigration controls and higher borrowing costs will increasingly become headwinds through his presidential term.
Carl Icahn
1. A lot of these mergers have been thwarted by the current administration.
Marta Norton
Empower Investments
1. There's a lot of emotion, there's a lot of euphoria, based on perspective in markets today. And I think that doesn't necessarily mean that's the way markets are going to trade in perpetuity.