this post was submitted on 06 Nov 2024
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News

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Summary

The U.S. dollar surged 1.5% and Bitcoin hit a record high after Donald Trump’s projected election victory, as markets anticipate pro-business policies, tax cuts, and inflationary pressures.

Global stocks also rose, with Japan’s Nikkei up 2.6% and Australia’s ASX 200 up 0.8%. Trump’s plans to make the U.S. a “cryptocurrency capital” and potentially increase trade tariffs, especially on China, are fueling market reactions.

Investors are now awaiting the U.S. Federal Reserve’s interest rate decision and China’s economic strategy announcement, as uncertainty looms over global trade and inflation.

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[–] FlyingSquid@lemmy.world 65 points 1 week ago (6 children)

Because investors like 1500% tariffs?

[–] ThePyroPython@lemmy.world 54 points 1 week ago (2 children)

They're betting that they can sell before that happens and someone else is left holding the bag: pension funds and 401k.

[–] orclev@lemmy.world 14 points 1 week ago

Yeah, time to cash out before the free fall starts.

[–] andrewta@lemmy.world 10 points 1 week ago (2 children)

Unpopular opinion : the crash was going to happen regardless of who's in charge. The market is long long over due for a major correction.

[–] FlyingSquid@lemmy.world 11 points 1 week ago (1 children)

A correction and a crash are two different things.

This will be a crash. Virtually every economist has said so.

[–] andrewta@lemmy.world 1 points 1 week ago

It should have been a correction had it been allowed to happen when it should have.

Now it will be an extreme correction (also known as a crash).

[–] Soup@lemmy.world 2 points 1 week ago

“Both sides both sides”

Hey, bud, your opinion is trash and you can shut the hell up literally any time. It’s free!

There could have been a crash in both situations but if they go through with what they promised the “worse” won’t begin to describe it.

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