Global markets surged on Wednesday following the victory of Donald Trump in the 2024 U.S. presidential election, defeating Kamala Harris. Investors around the world reacted positively to the anticipated victory, which spurred widespread gains across major financial indices.
In the United States, stock futures jumped as confidence in a potential Trump administration boosted market sentiment. The Nasdaq 100 and S&P 500 futures both increased, gaining around 1.7% and 1.9%, respectively. Dow Jones Industrial Average futures also saw significant momentum, climbing 2.1% after a day of strong performance across U.S. equities. The 10-year Treasury note also reflected rising optimism, with futures increasing by nearly 11 basis points to around 4.4%, as investors anticipated potential policy continuity favorable to economic growth.
Digital assets, particularly Bitcoin, joined the rally as Trump’s projected win intensified speculative interest in cryptocurrencies. Bitcoin rose 8% during Asian trading hours, reaching a new all-time high of $75,389 and exceeding its previous record set in March. As investor interest grew, the cryptocurrency market saw increased activity, with Bitcoin leading the charge.
Back in the United States, broader stock markets closed sharply higher on Tuesday, powered by fresh data signaling the resilience of the economy. According to the Institute for Supply Management, the non-manufacturing purchasing managers index (PMI) a key gauge of the services sector accelerated to 56.0 in October, up from 54.9 the previous month and beating economists’ forecasts of 53.8. The data indicated sustained growth in services, adding to investor confidence.
The positive U.S. sentiment extended globally, with the Indian stock markets also seeing substantial gains. Benchmark indices such as the Sensex and Nifty 50 rallied on Wednesday as Trump’s victory in the U.S. presidential election appeared likely.
The Sensex surged by 1,093 points, or 1.37%, to an intraday high of 80,569.73, while the NSE Nifty50 rose by 324 points, or 1.33%, to 24,537.6. Major sectoral indices in India, including IT, Realty, Auto, Metals, and PSU Banks, were all trading in the green, reflecting broad optimism in the markets. With nearly 1,941 stocks advancing, the market showcased investor confidence and strong demand across sectors.
