‘Trump trade’ surges as Donald claims victory


Far-reaching effect: Supporters celebrate the US election results that saw former President Donald Trump returning to office. His victory had US stock futures hitting record highs, the dollar surging and treasury yields jumping. — AFP

NEW YORK: Investors bought US dollars, bitcoin and stocks, and sold bonds as Donald Trump claimed victory in the US presidential election and Republicans took control of at least one chamber of Congress.

US stock futures hit record highs, the dollar surged and treasury yields jumped, while bitcoin broke US$75,000 for the first time – all moves flagged by investors as likely should Trump win over Democrat Kamala Harris.

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