Election week sees biggest stock rebound since 2008

Election week sees biggest stock rebound since 2008

The Dow Jones Industrial Average plunged nearly 900 points on election night but soared to an all-time high within days, the biggest stock market rebound since 2008, according to an investment analyst.

As election results trickled in on Tuesday night showing a strong showing for Donald Trump, the Dow plummeted due to uncertainty and shock.

The Dow began to rebound after Hillary Clinton conceded on Wednesday, increasing by 257 points. By Thursday, the Dow surged to an all-time high, increasing by 250 points.

Tom Elliott, an investment analyst at deVere Group, an independent financial advisory organization, says this is the biggest stock market rebound since 2008.

Trending: Pelosi introduces House resolution to censure Trump: What else is new?

“Against most analysts’ predictions, the S&P 500 ended yesterday in positive territory,” Elliott said. “Investors focused on three planks of Trump’s economic policy that are seen as beneficial to the U.S. stock market.”

Continue reading →

Commenting Policy

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.