The Globe and Mail reports in its Thursday, Nov. 7, edition that the U.S. stock market surged Wednesday as investors anticipated Donald Trump's potential return to the White House, expecting benefits like lower taxes and deregulation. A Reuters dispatch to The Globe reports that the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite closed at record highs, marking their largest one-day gains since November, 2022. However, there are concerns about possible fresh tariffs leading to a higher deficit and inflation. The Republican's win powered a rally in so-called "Trump trades" and sent U.S. Treasury yields sharply higher, with the benchmark 10-year note yield hitting a four-month high of 4.47 per cent. Canadian bond yields also rose sharply, with both the five-year and 10-year yields reaching their highest levels since July. Bitcoin hit a record high of over $76,000 (U.S.) and the U.S. dollar was on track for its biggest one-day percentage gain since September, 2022. Stocks viewed as likely to perform well under a second Trump term also advanced, with Trump Media & Technology Group closing up 5.94 per cent while Tesla leaped 14.75 per cent as Elon Musk has supported Mr. Trump's re-election campaign.