Market & Crypto Impact of Trump’s First 100 Days
1. Stock Market:
Strong Rally (Trump Rally):
After Trump’s election and into his first 100 days, the U.S. stock market surged. The S&P 500 rose about 5.3%, the Dow Jones gained around 6.3%, and the Nasdaq was up nearly 9%.
Investor Optimism:
Markets were bullish on Trump’s promises of tax cuts, deregulation, and infrastructure spending, which were expected to boost corporate profits and economic growth.
Sectors That Gained:
Banks & Financials: Benefited from expected deregulation.
Industrial stocks: On hopes of infrastructure plans.
Energy: Due to support for oil pipelines and coal industry.
2. Cryptocurrency Market:
Bitcoin's Steady Rise:
Bitcoin rose from around $900 in January 2017 to about $1,350 by April 2017, a gain of nearly 50% in Trump’s first 100 days.
Factors Behind Crypto Growth:
Growing global adoption.
Concerns about traditional financial systems and regulations.
Increased interest in decentralized currencies due to political unpredictability.
Not Directly Driven by Trump Yet:
While crypto grew during this time, it wasn’t directly due to Trump’s policies. Crypto was still considered niche in early 2017, and government attention on it was limited.
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