The U.S. stock market recorded the highest post-election surge in decades despite uncertainty over who would win the presidential election this time.
Shares reportedly rose after investors expected not to make much major changes to the business sector.
Technology and health firms that are now seen not to face new rules, show the biggest improvement.
Facebook shares jumped more than 8% while some major health insurance companies doubled.
The Dow closed more than 1.3% while the S&P 500 jumped 2.2% and the Nasdaq gained nearly 3.9%.
The surge was the largest in a day after the Presidential election four decades ago.
US President Donald Trump and his challenger Joe Biden are still waiting for the official vote results, especially in some of the major states.
Previously, Biden was expected to win narrowly but the situation could be changed at any time.
Trump claimed victory in his favor yesterday and accused Democrats of trying to seize election results.
However, uncertainty about who the next President is is not worrying the US financial markets which were previously proven strong this year despite facing a crisis in March due to the Covid-19 outbreak.
Investors are reported to be trading briefly in the US futures market overnight after their hopes of seeing Democrats win fade.
But the stock market soared again after investors were confident the fierce competition between Trump and Biden reduced the likelihood of other possible changes such as the proposed corporate tax rate hike.
“A divided government will further complicate the implementation of new laws. We doubt major economic policies other than the Covid stimulus package will be implemented as law, ”said economist Michael Pugliese.
The stock index in Europe also closed higher yesterday, rising again after Trump claimed victory in his favor. The Asian market also showed an increase yesterday.
