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Your guide to what the 2024 US election means for Washington and the world
It may not be his intention, but Donald Trump is making European markets great again.
Since election day in November, the benchmark US stocks index, the S&P 500, has smashed its way above 6,000 for the first time, with a gain of 6 per cent. US companies and global investors clearly like elements of the president’s agenda, especially the impulse to cut red tape (let’s see what horrors emerge from that later) and slash taxes. So far, so much American exceptionalism.
But Europe’s market performance has been none too shabby either. The pan-continental Euro Stoxx 600 index has matched its US counterpart with a 6.2 per cent gain over the same period. In the supposed economic wasteland of Germany, stocks are up by nearly 14 per cent, hitting record high after record high. Even European bank stocks are on a tear,…
