Stocks, bond yields and bitcoin surge as Trump wins US election

Stock prices, bond yields and bitcoin surged Wednesday as voters returned former President Donald Trump to the White House and the Republican party gained control of the Senate.

Investors expect Trump’s victory to lead to faster economic growth and more market-friendly policies.

Ahead of U.S. markets opening Wednesday, the future for the S&P 500 gained 1.23% and the future for the Dow Jones Industrial Average was up 1.02%. The Nasdaq composite future was 1.43% higher.

The price of bitcoin jumped nearly 8% to a record $75,345.00, as investors bet on a victory for Trump, who has pledged support for cryptocurrencies. It later fell back to $74,525.00.