The U.S. stock market surged on Wednesday as investors responded to the results of the presidential election, with Donald Trump securing a return to the White House. The victory, clinched with Wisconsin’s electoral support, led to significant upward movement across major indices.

The Dow Jones Industrial Average rose by 3.5%, adding around 1,500 points to hit a record high. Similarly, the S&P 500 increased by 2.5%, breaking past 5,900, while the Nasdaq Composite also reached a new high with a 2.9% gain. Meanwhile, the 10-year Treasury yield climbed by 13 basis points to 4.43%, reflecting a surge in investor confidence.

In addition to the presidential results, the Senate saw a shift in control to the Republicans, with the House of Representatives’ results still pending. This political landscape favored stocks in the financial sector, leading to a notable 11% increase in the S&P Regional Banking ETF. The small-cap Russell 2000 index, which includes several regional banks, advanced by over 5%.

Tesla shares experienced a sharp increase of over 14%, following CEO Elon Musk’s vocal support for the president-elect. The Federal Reserve also commenced its rate policy meeting on Wednesday, with market expectations pointing to a likely rate cut announcement on Thursday.