Trump’s victory roiled Wall Street and sank the Ibex 35 for its worst fall since March 2023.

In the first minutes of opening in American marketThe Dow Jones Industrial Average rose 3.18%, the tech-heavy Nasdaq rose 1.81% and the broader S&P 500 rose 1.94%. Financial institutions benefit the most in this country, with returns exceeding 11%, as is the case with Wells Fargo. Technology companies such as Nvidia also report growth of more than 2%, while others such as Apple or Amazon rise above 0.6%.

In Europe, the panorama is very different from the election results, and in this case it is greatly influenced by the strength of the dollar, the doubts that now arise in relations with countries such as Mexico and the United States. risk that Trump could start a trade war. Stock markets in France, Germany, Italy and the UK opened markedly higher in the early hours of the day, but reversed until they turned negative in the afternoon; The Milan trading floor is the worst among the four, with a fall of 1.8%.

Spain is a special case. It had been in the red since it opened, but as time passed the problem became more acute for our country’s markets until it fell about 3% around 4:00 p.m.; A figure like this has not been seen since March 2023, when turbulence hit the US banking sector. Some securities Capricorn 35.

BBVA, Banco Sabadell, Acciona and Acciona Energía are in the worst position for various reasons. In the first case, due to a possible deterioration in relations between the United States and Mexico; in the second, due to Trump’s opposition to renewable energy sources. They all fell more than 7%. Thus, banks and energy companies are suffering the most from the hangover after Donald Trump’s victory. And not only the four mentioned banks, but others such as Solaria, Banco Santander, Caixabank, Iberdrola, Endesa, Naturgy… are also experiencing a lot of stress on the trading floor.

In this case, analysts point out that markets are already picking up steam in the United States. “The election results support US financial assets, especially stocks and the dollar,” Lombard Odier points out. “US financial assets, especially stocks and the dollar, are expected to benefit. in anticipation that the Trump administration would cut taxes and loosen corporate regulations, although some of that optimism had already been dampened before the election. Global stocks should also benefit as sectors such as technology, banking and defense stand out amid higher military spending and lower regulation. The energy sector could face surprises: if increased US oil production leads to lower global prices, it could impact the traditional energy sector,” the company adds.

In the case of the dollar, it strengthened by 2% against the euro as a result of Donald Trump’s victory. For its part, the Mexican peso has depreciated more than 3% against the US currency since the election results were announced, demonstrating the risk it poses to the Aztec country’s economy and politics. Regardless, Mexico called for calm after this first strike.

“US stock futures are reacting positively, while skepticism appears to be prevailing in Europe. The US dollar appears strong and Bitcoin is also rising, but not as much as one might expect. Gold’s reaction so far has been completely underwhelming,” they say from DWS, while delving into the fact that markets don’t like nervousness and there are still unknowns to be clarified: “Some issues remain uncertain, such as Trump’s tariff plans and what will happen to corporate taxes, especially while the House vote is tied. Another important factor remains the movement in Treasury yields, which at some level could very well cause disruption on Wall Street.