Trump bets blast Dow to new high, bank sector hits 2008 levels
US banking sector shares on Thursday surged to levels not seen since the midst of the 2008 financial crisis, pushing the Dow to an all-time high, while technology shares sank as Wall Street rearranged its bets to benefit from Donald Trump's presidency. The S&P 500 financial sector surged 3.70 percent to its highest since the 2008 financial crisis, bringing its gain since Trump's surprise victory in Tuesday's election to 7.9 percent, its biggest two-day gain since 2011.
Shares of Wells Fargo & Co jumped 7.58 percent to their highest since January, and have now erased all of the losses incurred in the wake of a scandal over fake accounts opened by its employees. Bank of America surged 4.40 percent and JPMorgan Chase rallied 4.64 percent to a record high.
US banking sector shares on Thursday surged to levels not seen since the midst of the 2008 financial crisis, pushing the Dow to an all-time high, while technology shares sank as Wall Street rearranged its bets to benefit from Donald Trump's presidency. The S&P 500 financial sector surged 3.70 percent to its highest since the 2008 financial crisis, bringing its gain since Trump's surprise victory in Tuesday's election to 7.9 percent, its biggest two-day gain since 2011. 
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