Stocks, dollar and crypto jump after Trump assassination attempt
CNN
US markets rose Monday as investors processed the assassination attempt on former President Donald Trump over the weekend.
US markets rose Monday as investors processed the assassination attempt on former President Donald Trump over the weekend. The Dow rose 169 points, or 0.4%, paring its gains after hitting a fresh all-time high earlier in the session. The blue-chip index edged above 40,000 again on Friday and extended its rise Monday. The S&P 500 gained 0.2% and the Nasdaq Composite added 0.3%. Bettors raised their wagers that Trump will win the November election against President Joe Biden: A contract betting that Trump will win went for 67 cents on Monday, implying a 67% chance of the former president winning the election, according to election prediction market platform PredictIt. That’s up from 60 cents on Friday. The price of a contract for Biden’s victory cost 25 cents on Monday. The US dollar rose 0.2% on Monday morning. The price of bitcoin climbed 3.7%. The Republican Party’s campaign platform promises to “end Democrats’ unlawful and un-American crypto crackdown.” Shares of Trump Media & Technology Group, the former president’s social media company, popped 35.6%. A Trump win in November likely means the preservation or expansion of tax cuts and increased tariffs. During last month’s presidential debate hosted by CNN, the former president reiterated his desire to impose a 10% tariff on all imports, which would likely increase inflation and cast doubt on interest rate cuts.
Nippon Steel is expected to re-file its application for a national security review by American regulators of its $15 billion takeover bid of US Steel, sources familiar with the matter told CNN on Tuesday, buying Japan’s largest steelmaker an additional 90 days to close its acquisition of an American rival after political opposition emerged in an election year.
So far, the attacks that targeted Iran-backed Lebanese militant group Hezbollah members through their pagers have had devastating consequences. At least nine people, including an eight-year-old girl, were killed, and at least 2,800 were wounded. Over 150 of those injured are in critical condition, according to the Lebanese health minister.