Wall Street Rallies as Trump Wins Second Term, Crypto Market Cap Hits $2.5T
By:Cointime
The federal funds rate is expected to decrease further following a surge in risk assets on Wall Street after Donald Trump was re-elected as president of the United States. Major indexes such as the S&P 500 and Nasdaq Composite, as well as cryptocurrencies, experienced significant gains. This was partly due to momentum-based hedge funds reducing their risk exposure in the face of uncertainty surrounding the election outcome.
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