Following former President Donald Trump’s resounding and significant victory in Tuesday’s US presidential election, US equities surged higher on Wednesday.
Premarket trading saw the start of the enormous rise, which lasted through the morning and afternoon trading sessions. The Dow closed at a new record high after rising 1,507 points, or 3.57%. The blue-chip index has increased by over 1,000 points in a single day for the first time since November 2022.
Both the Nasdaq and the S&P 500 hit all-time highs, with the tech-heavy index closing 2.95% higher and the S&P up 2.5 percent. Treasury yields increased along with the US currency, which saw its best day in two years.