U.S. stock markets hit record highs following Trump's election victory

U.S. stock markets reached record highs on Wednesday following Donald Trump's presidential victory. The Dow Jones gained over 1,500 points, marking its largest single-day increase since November 2022. The S&P 500 and Nasdaq also hit new records. Vice President Kamala Harris conceded the election to Trump, urging her supporters to accept the results. She expressed her commitment to continue advocating for their causes in various forums. The Federal Reserve is expected to announce an interest rate cut after its meeting concludes on Thursday. Markets anticipate a reduction of 25 basis points as they await comments from Fed Chair Jerome Powell.