14 July 2024
After an assassination attempt on former President Donald Trump at a rally, investors are turning to traditional safe-haven assets such as the US dollar, Japanese yen, Swiss franc, and gold. Bitcoin has also surged past $60,000. The attack is expected to increase market volatility and boost Trump’s chances in the 2024 presidential election, especially given President Biden’s poor performance in a recent debate. This could lead to a rise in “Trump trades,” favoring assets like energy firms, private prisons, and credit card companies. Analysts predict an initial spike in the US dollar and bond yields, while tech and renewable energy stocks might suffer. Markets are on high alert for potential copycat attacks, and experts advise caution in reaction to immediate market movements.