[ad_1]
Wall Street Booms After Trump Win While UK Market Slumps
Wall Street is reacting with jubilation to the election of a deregulation and low-tax candidate to the White House. As opposed to the one who proposed hikes in capital gains tax, corporation tax, estate tax, and a new financial transaction tax…
Markets are posting an impressive performance today:
- S&P 500 up 2.1% to 5,905.60.
- Dow Jones Industrial Average up 3.3% an all-time peak of 43,614.51. The biggest single-day jump in two years…
- Nasdaq Composite up 2.5% to 18,894.30.sam
- Russell 2000 index up 4.9%.
- Bitcoin up 7% at 74,463.
- Dollar index up nearly 2%.
It’s happened before – the S&P 500 rose 70% over the course of Trump’s first term. Back across the pond rising gilt yields have sustained themselves and are actually getting higher. 10-year gilt yields topped a Truss-beating 4.6% earlier today and are hovering just below right now…
If those borrowing costs are maintained Reeves’ £9.9 billion of “fiscal headroom” as designated by the OBR according to her rules will be completely wiped out. Gilty as charged…
[ad_2]
Source link
