U.S. stocks stormed to records as investors bet on what Donald Trump’s return to the White House will mean for the economy and the world.
The S&P 500 jumped 2.5% Wednesday for its best day in nearly two years. The Dow Jones Industrial Average surged 1,500 points, and the Nasdaq composite gained 3%.
Big bank stocks led the way on expectations that Trump’s policies will lead to stronger economic growth and less regulation. Bitcoin also jumped to a record, while Treasury yields ran higher amid worries about bigger U.S. government borrowing and higher inflation. The U.S. dollar jumped against other currencies.
On Wednesday:
The S&P 500 rose 146.28 points, or 2.5%, to 5,929.04.
The Dow Jones Industrial Average rose 1,508.05 points, or 3.6%, to 43,729.93.
The Nasdaq composite rose 544.29 points, or 3%, to 18,983.47.
The Russell 2000 index of smaller companies rose 132.08 points, or 5.8%, to 2,392.92.
For the week:
The S&P 500 is up 200.24 points, or 3.5%.
The Dow is up 1,677.74 points, or 4%.
The Nasdaq is up 743.55 points, or 4.1%.
The Russell 2000 is up 182.79 points, or 8.3%.
For the year:
The S&P 500 is up 1,159.21 points, or 24.3%.
The Dow is up 6,040.39 points, or 16%.
The Nasdaq is up 3,972.11 points, or 26.5%.
The Russell 2000 is up 365.85 points, or 18%.
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