Dow Jones jumps over 1,300 points after Trump wins election: NPR

Stocks and cryptocurrencies rose after former President Trump won the presidential election. Pictured are traders working at the New York Stock Exchange in New York on October 22.

Spencer Platt/Getty Images/Getty Images North America

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Spencer Platt/Getty Images/Getty Images North America

Wall Street investors are cheering former President Trump’s return to the White House.

The Dow Jones Industrial Average rose more than 1,300 points shortly after the open, or more than 3%, just hours after Trump won the presidential election over Vice President Kamala Harris.

Meanwhile, the Nasdaq and S&P 500 were both up more than 1.5% each in early morning trading.

Wall Street investors perceive Trump as more favorable to business interests, particularly in terms of cutting taxes and regulations.

Investors are particularly embracing the so-called “Trump trade,” buying up stocks and other assets they expect to perform well during Trump’s second presidency.

Bitcoin and cryptocurrency-related stocks also soared following the election of a president who promised to make the United States the “crypto capital of the planet.” (The crypto industry had poured money into the 2024 election.)

Meanwhile, shares of other companies particularly close to Trump are also rising.

Tesla, the electric car maker run by Trump supporter Elon Musk, rose more than 10% in early trading. And Trump Media & Technology Group, the company that controls Trump’s Truth Social network, also rose more than 10%.