Market Jitters: Trump's Economic Impact and Cryptocurrency Surge

Asian shares dipped as China's market struggles, while U.S. bond yields rose amidst inflation concerns and Trump's return to office. Bitcoin remained strong, boosted by political developments, while investors anticipate potential U.S. Federal Reserve policy shifts. China's real estate issues continue to influence regional market performance.


Devdiscourse News Desk | Updated: 14-11-2024 08:00 IST | Created: 14-11-2024 08:00 IST
Market Jitters: Trump's Economic Impact and Cryptocurrency Surge
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Weak performance in Chinese markets pulled down broader Asian shares on Thursday, as U.S. bond yields climbed alongside the dollar. Investors are reevaluating the economic landscape with Donald Trump back in the White House.

Bitcoin stabilized above $90,000, buoyed by Trump's political comeback, as traders see a favorable environment for cryptocurrencies under his administration. The cryptocurrency surged over 30% in a fortnight.

In the U.S., inflation figures aligned with forecasts but triggered increased speculation of a Federal Reserve interest rate cut. With Trump's policies looming, long-term economic strategies remain uncertain. Analysts note Trump's plans for tax cuts and tariffs could intensify inflationary pressures.

(With inputs from agencies.)

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