Dow Goes Absolutely Wild on News of Trump's Win

Stocks are responding to a second Trump presidency in a big way. CNBC reports the Dow surged 1,300 points at the open, a rise of about 3% to an all-time high; it's at 43,510 points as of this writing. The last time it experienced a surge of at least 1,000 points was in November 2022. The S&P 500 and Nasdaq Composite also hit record highs, up 2% and 1.8%, respectively.

As for the early financial winners and losers, the Wall Street Journal reports that shares of the leading US lenders including JPMorgan, Bank of America, Wells Fargo, and Citigroup "all leapt on the prospects for lighter-touch regulation and higher interest income under a Donald Trump administration." Elon Musk's Tesla is up 15% and bitcoin is also "storming higher," per the AP, while "the Mexican peso, renewable energy companies and potentially anyone worried about higher inflation" are finding themselves in the losers category. (More Dow Jones stories.)