Market Surge Amid Trump's Presidential Triumph and Bitcoin Boom

Global markets rallied as Donald Trump was elected U.S. president, boosting U.S. stocks while Bitcoin hit a record high. Emerging markets struggled, with Mexico's peso falling, amid concerns over potential tariff hikes. The U.S. dollar strengthened, impacting commodity prices, while U.S. bond yields rose.

Global stock markets experienced a surge on Wednesday as Donald Trump secured the U.S. presidency, with U.S. small cap stocks rising against expectations of corporate-friendly policies. Meanwhile, Bitcoin reached a record high, signaling confidence among cryptocurrency investors in Trump's potential support.

In contrast, the bond market saw investors selling off long-dated Treasuries amid fears of increased tariffs. Consequently, U.S. bond yields climbed, pointing to potential inflationary pressure and affecting the Federal Reserve's rate-cut plans. European shares also rose, driven by hopes of stability, but emerging markets like Mexico showed signs of strain due to tariff concerns.

Key global currencies saw mixed reactions to the election news, as the U.S. dollar strengthened against the euro, yen, and offshore yuan. Commodity prices, including oil and gold, fell as their purchasing power was weakened by the stronger dollar. Economic uncertainty looms, particularly for European and Chinese markets, as policymakers assess the potential impact of the U.S. election outcome.

(With inputs from agencies.)