Illustration of Market Rally Amidst Trump Assassination Attempt

Market Rally Amidst Trump Assassination Attempt

The Dow Jones Industrial Average surged about 150 points shortly after the market opened on Monday, following an assassination attempt on former President Donald Trump. The incident took place at a rally outside Pittsburgh on Saturday, where Trump’s ear was grazed by a bullet.

After markets opened on Monday, the Dow was up 150 points, or about 0.36%, to 40,146. The S&P 500 rose 0.38%, while futures for the tech-heavy Nasdaq also climbed 0.5%.

Shares of Trump Media & Technology Group, the company behind Trump’s social media platform Truth Social, soared 30% shortly after the market opened on Monday, just days after the assassination attempt. Trump Media stock was valued at $39 per share in the morning. The company closed out last week up 3.4%, with shares trading at $30.88, giving it a market capitalization of $5.86 billion.

Shares of Bitcoin mining companies such as Riot Platforms rose more than 5% in the morning. MicroStrategy and Coinbase jumped more than 10% and 8%, respectively.

While the political implications of the shooting remain uncertain, early reactions suggested that the attempt on Trump’s life could strengthen his position as the presumptive GOP nominee for the upcoming election. Trump has increasingly presented himself as a crypto-friendly candidate.

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