Former President Donald Trump‘s win in the 2024 election led to a major stock market change, FOX Business reports.
The Dow Jones spiked more than 1,000 points, before pulling back, while the S&P 500 and Nasdaq also increased by more than 1% as Trump was projected as the winner of the 2024 presidential election at around 3:30 a.m. ET Wednesday (November 6) morning.
“We’re going to pay you back. We are going to do the best job. We’re going to turn it around. It’s got to be turned around, and it’s got to be turned around fast. And we’re going to turn it around” Trump said during his victory speech in Florida before inviting running mate JD Vance to the podium.
“We’re going to lead the greatest economic comeback in American history under Donald Trump’s leadership,” Vance added.
Stocks were reported to be steadily climbing Tuesday even prior to Trump winning the election with all three of the major market averages rising over 1%.
“What the outcome of an election does is to provide us some certain amount of falling uncertainty” said Ken Fisher, chairman and founder of Fisher Investments, during an interview on Cavuto Coast to Coast prior to the election results.
The S&P 500 and Nasdaq Composite were up more than 20% annually prior to the election, while the Dow is reported to be up 12%, according to FOX Business.
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