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

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

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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, or more than 3%, shortly after the open, just hours after Trump won the presidential election over Vice President Kamala Harris.

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

Wall Street investors see Trump as more beneficial to business interests, particularly when it comes to cutting taxes and regulations.

Investors are particularly using the so-called “Trump trade,” where they buy up stocks and other assets that they expect will perform well under Trump’s second presidency.

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

Meanwhile, stocks of other companies particularly closely tied to Trump are also rising.

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