The effects of Trump's victory: Stock market increases in Europe and Asia, the dollar strengthens, Bitcoin has reached a historical high

The effects of Trump's victory: Stock market increases in Europe and Asia, the dollar strengthens, Bitcoin has reached a historical high

The main stock markets in Europe started Wednesday’s trading session on the rise after Donald Trump claimed victory in the US presidential election.

Stocks are rising on European exchanges as Donald Trump is on the verge of returning to the White House. Shortly after the opening of trading, the London Stock Exchange rose by 0.9%, the Paris Stock Exchange by 1%, and the Frankfurt Stock Exchange by 0.8%, as reported by AFP.

The pan-European STOXX 600 index rose by 1.7% and is likely to record the highest single-day increase of the year, while futures contracts tracking the S&P 500 index rose by over 2%, according to Reuters.

ADVERTISING

See the latest statements and results of the most important race on the planet HERE

Stock indices were mostly up in Asia on Wednesday, while the US dollar also rose.

In Japan, the benchmark Nikkei 225 stock index closed up by 2.6%, while Australia's ASX 200 closed 0.8% higher, according to BBC.

In mainland China, the Shanghai index remained steady, while Hong Kong's Hang Seng fell by about 2.5%.

The US dollar rose by over 1.5% against other major currencies, including the euro, British pound, and Japanese yen.

ADVERTISING

Additionally, Bitcoin reached a new all-time high on the night of the US elections, briefly surpassing the $75,000 level, as reported by The Guardian.

The price of Bitcoin reached the historic level of $75,060 on Tuesday, with investors betting on Trump's victory.

The largest cryptocurrency thus exceeded the previous peak of $73,803.25, set in March. Since the beginning of the year, the price of Bitcoin has risen by 74%.

Donald Trump has positioned himself in favor of cryptocurrencies, advocating for reduced regulations in this sector.

ADVERTISING

T.D.


Every day we write for you. If you feel well-informed and satisfied, please give us a like. 👇