Stocks rallied as investors digested Donald Trump's victory in the US presidential election over Kamala Harris.

Risk appetite returned with gluttonous abandon on Wednesday, as the tech-heavy Nasdaq Composite added 3% to 18,983 and the small-cap Russell 2000 popped nearly 6%. The blue chip Dow Jones Industrial Average rallied 3.6%, or 1,508 points to 43,729, while the broader S&P 500 rose 2.5% to 5,929.

Key Takeaways U.S. futures skyrocketed ahead of the opening bell as voting results showed former president Donald Trump was the winner of the 2024 presidential race.Cryptocurrency prices soared, and oil futures dropped in anticipation of Trump's policies.

T his election cycle, the crypto industry poured over $100 million into races across the country, hoping to assert crypto’s relevancy as a voter issue and usher pro-crypto candi

The cryptocurrency world is celebrating a successful operation to oust its critics and usher in a new cohort of allies up and down the ballot just two years after several scandals roiled the industry’s status in Washington.

Key Takeaways Trump's win is seen as a positive development for crypto — as illustrated by the latest rise of bitcoin prices, which earlier touched record highs. More regulatory clarity for stablecoins and crypto assets generally could see progress in Congress as more pro-crypto lawmakers take office.