Trump Assassination Attempt: US Markets Remain Unfazed
The US stock market showed remarkable resilience following an assassination attempt on former President Donald Trump on Saturday. Despite the incident, Dow futures rose by 0.2%, S&P 500 futures by 0.1%, and Nasdaq Composite futures remained unchanged.
The attempted assassination occurred during a Trump rally in Butler, Pennsylvania, where the former president was shot in the ear. While the shooter and one attendee were killed, two spectators were critically injured. Trump was reported to be "fine" after the incident.
President Biden spoke with Trump and denounced the violence. The Republican National Convention is scheduled to begin on Monday in Milwaukee, where Trump is expected to be officially nominated as the Republican candidate for the 2024 presidential election.
Bitcoin Soars Amidst Political Turmoil
Interestingly, Bitcoin surged past $60,000 following the incident, suggesting that investors are seeking refuge in the cryptocurrency amidst the political uncertainty. This surge is likely driven by the perception of Bitcoin as a safe haven asset, similar to gold, in times of market volatility.
Impact on the Market
While the assassination attempt could have thrown the markets into chaos, Trump’s apparent recovery and the market’s belief in his continued frontrunner status have kept the overall sentiment stable. A Trump victory in the 2024 election is likely to result in the continuation or expansion of tax cuts and increased tariffs.
The market’s focus now shifts to the upcoming week’s earnings reports from major companies like Goldman Sachs and BlackRock. This week also marks the beginning of the Republican National Convention, which will likely see further political discourse and potential market fluctuations.
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!