Trump group and Tesla lead the way as markets, bitcoin and dollar boosted

Wall Street and bitcoin rallied to fresh record highs yesterday and the dollar soared after Donald Trump's victory in the US presidential election, while renewable energy stocks fell.

- Phillip Inman, Graeme Wearden, Callum Jones

Trump was declared the winner after passing the 270 electoral votes needed to take the presidency.

The Republicans also gained a majority in the Senate, giving Trump sweeping powers to cut taxes and impose tariffs on imported goods - judged as a positive for the US currency.

When New York opened for trading yesterday, the benchmark S&P 500 rose 2.1%, the Dow Jones industrial average increased 3.1%, and the tech-focused Nasdaq composite climbed 2.1% - all hitting all-time records.

"That's the Trump trade," Marta Norton, chief investment strategist at Empower Investments, told CNBC. "There's a lot of emotion, there's a lot of euphoria, based on perspective in markets today. And I think that doesn't necessarily mean that's the way markets are going to trade in perpetuity."

Shares in the president-elect's Trump Media & Technology Group, hours after revealing another heavy quarterly loss, increased by as much as 30% before losing ground in another volatile rally.