The News
Global markets reacted to the attempted assassination of Donald Trump with a surge of bets that could pay off if the former US president wins in November. Shares of Trump Media rose 30%; the price of bitcoin reached its highest level in two weeks; and South Korean defense and nuclear energy stocks climbed. It’s based on “anticipation that the Republican’s return to the White House would usher in tax cuts, higher tariffs and looser regulations,” Bloomberg wrote.
In China, shares of a company whose Chinese-language name sounds like “Trump wins big” soared Monday. It’s common for individual Chinese investors to trade based on such homophones: “Even though no one believes in the true existence of this association, they enjoy it,” said a Beijing-based investment banker.