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 percent Wednesday for its best day in nearly two years. The Dow Jones Industrial Average surged 1,500 points, and the Nasdaq composite gained 3 percent.
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 percent, to 5,929.04.
The Dow Jones Industrial Average rose 1,508.05 points, or 3.6 percent, to 43,729.93.
The Nasdaq composite rose 544.29 points, or 3 percent, to 18,983.47.
The Russell 2000 index of smaller companies rose 132.08 points, or 5.8 percent, to 2,392.92.
For the week:
The S&P 500 is up 200.24 points, or 3.5 percent.
The Dow is up 1,677.74 points, or 4 percent.
The Nasdaq is up 743.55 points, or 4.1 percent.
The Russell 2000 is up 182.79 points, or 8.3 percent.
For the year:
The S&P 500 is up 1,159.21 points, or 24.3 percent.
The Dow is up 6,040.39 points, or 16 percent.
The Nasdaq is up 3,972.11 points, or 26.5 percent.
The Russell 2000 is up 365.85 points, or 18 percent.
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