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Prime Minister Narendra Modi congratulated Donald Trump on his historic election victory, expressing eagerness to enhance the India-US Comprehensive Global and Strategic Partnership. As Trump prepares for his presidency, India is attentive to potential impacts on trade relations, especially in light of Trump's criticism of India's high tariffs.
As Donald Trump aims for a comeback in the White House, he has criticized India's high tariff policies, claiming they impose some of the steepest import duties on foreign products. At a recent economic event, he pledged to implement a reciprocal tax policy if re-elected, targeting countries like India that he believes charge excessively high tariffs on American goods.
Tesla's Frankfurt-listed shares surged over 14% following positive sentiment around a potential Republican win in the US presidential race, with Elon Musk, the company's top shareholder, backing Donald Trump. Additionally, Coinbase Global shares opened up 16% in Frankfurt, buoyed by a record surge in bitcoin prices exceeding $75,000.
With Donald Trump poised to win the 2024 election, financial markets are reacting strongly. Bitcoin has reached an all-time high, while the US dollar and stock indices surged over 1%, driven by expectations of inflationary policies and a crypto-friendly regulatory environment under Trump. Treasury yields have also spiked, with the 10-year yield hitting 4.47%, reflecting market volatility and positioning ahead of potential policy shifts.
As the US elections unfold, markets are reacting to expectations of a Trump victory, with Treasury yields and the US dollar rising sharply. Small-cap equities are benefiting from Trump's policies, while the dollar index gains momentum, reversing previous losses. Conversely, the Hang Seng Index has dropped significantly, reflecting concerns over Trump's protectionist measures impacting trade, particularly with China.
On November 6, 2024, the Swiss stock market opened stronger following predictions of Donald Trump's victory in the U.S. presidential election. The euro traded at CHF 0.9362 and the dollar at CHF 0.8733, while oil prices dipped slightly. In pre-market trading, shares of Trump Media & Technology Group surged over 40%, nearly doubling in value since their March debut, after Trump claimed victory over Kamala Harris.
Shares of Wisesoft Co., a Chinese company whose name suggests a Trump victory, surged in Shenzhen as Donald Trump expanded his lead in the US presidential vote. In contrast, stocks associated with Kamala Harris experienced a decline. This phenomenon mirrors a similar rally following Trump's 2016 election win.
European stocks are set for a lower open as global markets react to early U.S. election results favoring Donald Trump, with Dow futures rising over 480 points and Bitcoin hitting a record $75,000. Treasury yields also climbed, reflecting expectations of potential Republican policies that could impact inflation and tariffs. Analysts anticipate volatility in the markets, with differing strategies depending on the election outcome.
Markets are reacting positively to the prospect of a Republican sweep, with Trump leading in the electoral college. Anticipated policies include significant tariffs on imports and fiscal expansion, contributing to a surge in Treasury yields and a record high for bitcoin at $75,080. US equity futures are also up, while the dollar index reaches a four-month peak, indicating strong market momentum.
China's yuan weakened and stock markets in mainland China and Hong Kong fell as investors anticipated a potential return of Donald Trump as U.S. President. The CSI300 Index dropped 0.27%, while the Hang Seng Index declined by 2.5%, with major tech stocks like JD.com, Meituan, and Alibaba experiencing significant losses.
Kamala Harris
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Modi congratulates Trump on election win and seeks stronger US India ties
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06:19 06.11.2024
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