The 2024 U.S. presidential elections were closely watched in the country and became an unprecedented event-the first anchoring down the victory of Donald Trump over Kamala Harris. It not only marks his return to the White House after his loss in a Presidential campaign of the 2020 elections, but it also makes him the first ever convicted with felony charges to actually ascend to that highly esteemed office.
His legal history, madly intensifying polarisation of the electorate, made this election one involving one of the biggest events in the histories of some time-surprising for both world cross-sections of issues and for cheers and jeers across the globe, proven tough to make any market reaction.
Trump’s victory announced with glee met with an immediate-to-the-moment market run-up, seen as a favourable development in the eye of future course policies going further among investors. Indices in the U.S., like the S&P 500 and the Dow, are strong gainers, to the extent that it was on expectations of polities in Trump policy lines of tax cuts and reduced regulations. Bitcoin rose to above $60,000, a new high.
The rise in the cryptocurrency is reflective of the optimism of investors in the increasingly growing changes in financial policy and what that should mean for decentralisation with Trump’s stance on this matter being a veritable middle ground between orthodox perspectives on government and the need to protect finance opts for the blockchain business.
Trump’s Historic Win: Legal and Social Ramifications
What makes Trump’s win most astonishing is the backdrop heretofore existing-a laundry list of legal woes he has had to tackle, felony charges among them connected to campaign finance infractions. The election sets a first in history, therefore, as such will be expected to mark him the first U.S. president against whom a criminal conviction standing against a president, which underlined the currents brewing up which would threaten fine-tuning the pathways of American politics on the go.
His supporters see him as an outsider as far as the political scene is concerned-the defiance was apparent-yet it highlights the larger pool he has that roams in his re-establishment into the Oval Office in the same breath he was challenged legally.
Kamala Harris’s defeat, however, was another dampener for those who still see in her the first female president of African descent and who have since South Asian ancestry-thought by many as a game-changing moment for American history.
Implications for Foreign and Domestic Policy
It is expected that Trump’s re-election would reinstate his unwholesome approach in eviving his foreign and domestic policies. Observers predict a return to his “America First” position, with a likely emphasis on trade renegotiations and a tougher stand on immigration. He has promised to bring back economic growth through deregulation, which is in line with the market rally.
Although his stance may further enhance his appeal among conservative voters who find it important to make the economy flourish, it is likely to escalate the political tension among liberal-leaning demographics and Congress opposition.
Though each candidate represented dissimilar and divergent ideations for the U.S. throughout election season, it played host to starkly multinational divisions-what can spread from the winning side (Trump’s) mostly will plant the foundation on which key legislative and judicial decisions are made with regards to tax policy, trade, and the judiciary.
Conversely, amidst Harris’s landmark charges, the demographic tide coupled with strong Republican turnout in swing states, such as Arizona, Georgia, and Pennsylvania, further complicates the increasingly dynamic U.S. electoral approaches, granting highlight status to the crucial involvement of battleground states in selection.
As Trump rides into office, the whole world-foreign observers and market analysts alike-will be keenly attentive to the new directions of his decision-making, especially in foreign strategies, cryptocurrencies, and significant economic reforms. His re-invitation has already generated ecstasy among his groups of disciples thereby re-designing the investor landscape and heralding another change in American politics.
