The result could have a far-reaching implications for tax and trade policy, as well as economies around the world.

Summary

The U.S. dollar surged 1.5% and Bitcoin hit a record high after Donald Trump’s projected election victory, as markets anticipate pro-business policies, tax cuts, and inflationary pressures.

Global stocks also rose, with Japan’s Nikkei up 2.6% and Australia’s ASX 200 up 0.8%. Trump’s plans to make the U.S. a “cryptocurrency capital” and potentially increase trade tariffs, especially on China, are fueling market reactions.

Investors are now awaiting the U.S. Federal Reserve’s interest rate decision and China’s economic strategy announcement, as uncertainty looms over global trade and inflation.

  • andrewta@lemmy.world
    32·
    22 hours ago

    It should have been a correction had it been allowed to happen when it should have.

    Now it will be an extreme correction (also known as a crash).