Oh look, the media was wrong again! While the votes were coming in on Election Night, stock futures looked to be plummeting.
The media—who seem to lack a basic knowledge of the stock market—claimed this was from a fear of Trump winning, instead of the logical reason that the uncertainty shook buyers for a moment.
Now we’re seeing just how wrong they were. While Wall Street supported Hillary Clinton in large numbers, it’s clear the victory of a strong, business-minded Republican is having the expected affect on the global market.
From CNN Money:
That didn’t take long. An overnight panic in global markets evaporated as Wall Street gave an emphatic welcome to President-elect Donald Trump.
The Dow soared 257 points and brushed up against lifetime highs on Wednesday, in defiance of those who predicted Trump’s election would bring about a plunge in the stock market. The S&P 500 and the Nasdaq rose 1.1% apiece.
The impressive market performance represents a dramatic reversal from the knee-jerk panic in global markets overnight as the results were coming in. Dow futures plummeted nearly 900 points at one point as investors expressed fear that no one would emerge victorious and concern about the inherent uncertainties brought on by a Trump White House.
UPDATE: The Dow continued its upward swing after pausing for a possible correction from the previous day, closing at a record high of 18,807 points. Investors are clearly embracing the prospect of a Donald Trump residency.
Now that America has an uncompromising, determined leader at the helm (or soon to be at the helm), stock buyers are optimistic over the future of the economy. As Trump is good to his word of bringing jobs back to America and ending trade deals that hurt our strength around the world, the market will only continue to thrive.
It’s notable that the surge started after Hillary gave her concession. It’s almost as if they were celebrating the final defeat of the arrogant globalist, whose administration would have only spelled certain doom to American economic strength.
The surging stock market is only the first sign that a Trump presidency will herald a new era of success for America.
Source: CNN Money