Global stock markets drop following Trump’s attempted assassination
By Esther Agbo
The attempted assassination of former US President Donald Trump has led to different reactions across global stock exchanges, mostly bearish.
As markets opened on Monday, July 15, significant declines were observed in both European and Asian markets.
In the UK, the FTSE All-Share Index, which tracks stocks listed on the FTSE, fell by 30.27 points, a 0.67 percent drop from Friday’s close of 4522.75.
The FTSE 100, the benchmark index of the London Stock Exchange, opened down 59.45 points, a 0.72percent decrease from its previous close of 8,252.9.
France’s CAC 40 Index, the benchmark for Euronext Paris, opened with a 27.79-point decline, a 0.36percent drop from its last close of 7654.55 points. Italy’s FTSE MIB index also saw a decline, opening 157 points lower, representing a 0.46percent drop from its previous close of 34,512.02 points.
In Asia, market declines were more influenced by China’s GDP announcements than by the events related to Trump. China revealed its second-quarter GDP growth rate of 4.7 per cent, down from 5.3 per cent in the first quarter on Monday morning.
The Hang Seng Index in Hong Kong closed at 18,015.94 points on July 15, a 1.52 percent drop, while the Shanghai Stock Exchange (SSE) Composite Index saw a slight increase of 0.09 per cent, closing at 2,974.01 points. South Korea’s KOSPI index which tracks the performance of all stocks on the Korean Stock Exchange recorded a 0.14 percent gain, closing at 2,860.92.
Despite the mixed sentiments in the equity markets, the crypto markets experienced a bullish wave. On July 15, Bitcoin surged by about 4.7 per cent to surpass the $63,000 mark, the highest since July 1.
Ether also rose by 3.05 per cent, reaching $3,340. The bullish trend in the crypto markets and related stocks is linked to increased investor bets on a potential Trump presidency. This sentiment is expected to drive trading activity throughout the week.
Despite mixed sentiments in global equities markets, an assassination attempt triggered a bullish trend in the global crypto markets.
On July 15, Bitcoin surged by approximately 4.7 percent, surpassing the $63,000 mark for the first time since July 1. Ether also saw an increase of 3.05 percent, reaching $3,340 during the day.
This rise in the crypto market and related stocks is attributed to investors betting on the increased likelihood of a Donald Trump presidency. Investors are anticipating more trades betting on Trump’s victory throughout the week.
Following the assassination attempt at his rally in Pennsylvania on Friday, Trump’s chances of winning the US presidency have reportedly increased, as reflected in recent polls. Shares of Trump Media & Technology Group (TMTG), in which Trump holds a majority stake valued at approximately $3.8 billion as of June 25, surged by 67 per cent in response to the incident.
