Breaking news for investors – U.S. markets are surging as Trump locks in his presidential comeback, sparking a market rally that's hard to ignore. S&P 500 (SPY, Financial) futures popped up 2.3%, Nasdaq (QQQ, Financial) by 1.6%, and Dow futures took the lead with a 3% jump. Investors are diving back into “Trump trades,” anticipating a cocktail of tax cuts and business-friendly policies that could shake up the economy. With Treasury yields spiking—10-year at 4.45%—Wall Street's now keeping a close watch on the Fed's next rate decision, though bets on long-term cuts are cooling.

On the flip side, China's markets are feeling the heat. Hong Kong's Hang Seng Index dropped 2.3% as investors brace for the potential impact of fresh tariffs and tech restrictions. Heavyweights like JD.com (JD, Financial) and Alibaba (BABA, Financial) slid 4%, while the yuan's sharp decline signals growing currency concerns. In a climate of heightened trade tension, China's recent economic stimulus efforts may struggle to counterbalance Trump's aggressive trade posture, especially in critical sectors like AI and defense.

Commodities felt the ripple effects, too. Brent crude fell 2.7%, and copper sank 4%, as investors recalibrate for a possibly tariff-driven slowdown in global growth. Meanwhile, Bitcoin hit new highs above $74,000, riding the wave of Trump's pro-crypto stance. The dollar index surged 1.8%—its biggest single-day leap since Brexit—sending the euro and yen reeling. All eyes are now on the longer-term impact as markets brace for the next moves in the “red wave” trade game, where everything from currency moves to tech stocks could see unpredictable shifts.