Market volatility: Trump's shooting sparks rally in stocks, cryptocurrencies and "Trump stocks"

July 15, the S&P 500, the Dow Jones Industrial Average and the Nasdaq all opened higher, with the Dow Jones Industrial Average rising 0.48%, the Nasdaq rising 0.75%, and the S&P 500 rising 0.53%. The shooting of President Trump boosted the probability of his re-election, leading to a rally in "Trump stocks".

Trump Media & Technology Group, a social media company founded by Trump, saw its stock price jump nearly 50% during the day, before closing at 35%. The company's flagship product, Truth Social, is a social media platform similar to Twitter.

Meanwhile, Tesla's stock also opened and closed higher, with a gain of 6.33%. Earlier, Musk had publicly supported Trump and tweeted that "I fully support President Trump and hope he gets well soon." It was also reported that Musk had donated to Trump, hoping to use his wealth to influence the 2024 US election.

The shooting of President Trump also had a significant impact on the cryptocurrency market. As of the time of writing, Bitcoin's price had risen by more than 5% to $62,933, and other cryptocurrencies such as Ethereum and Solana had also risen by more than 5%. However, according to Coinglass data, more than 40,000 people had liquidated their positions in the past 24 hours, with a total liquidation value of $129 million. Despite this, shares of cryptocurrency companies such as Coinbase and Bit Digital rose by 5.5% and 4.7%, respectively, and Bit Mining rose by 8.4%.

It is worth noting that "Trump stocks" also saw a rally in the A-share market. Ctrip, a travel company, opened at the top of its trading range, a move reminiscent of its rally after Trump's victory in the 2016 election. However, Ctrip responded to the price movement by saying that it had noticed the price fluctuation but was not aware of the specific reasons, and that the company was operating normally and had no significant information to disclose. Last week, Ctrip also released its earnings forecast, expecting a net loss of RMB17-23 million for the first half of 2024.

In general, the shooting of President Trump had a significant impact on the financial markets, with stocks such as Tesla, cryptocurrency companies, and "Trump stocks" all rallying to varying degrees. However, the long-term impact on specific stocks and the market as a whole remains to be seen.