In the year since Donald Trump’s election as U.S. president, global financial markets have had to navigate policy shocks and unprecedented uncertainty and high volatility, with stocks, gold and crypto hitting record highs.

After Trump defeated Democratic rival Kamala Harris on November 5, 2024, the dollar roared higher, along with stocks and bitcoin, while Treasury yields rose, as investors priced in the likelihood of greater strain on U.S. finances.

Since then, the U.S. administration has struck deals on trade, while upending global supply chains and decades of post-war international diplomacy.

Investors are learning to ride out the unpredictability, including clear ways to trade Trump’s tendency to amp up threats only to later back down. The so-called TACO trade - “Trump always chicke

See Full Page