Techies Hope for Trump-Driven Deregulation

That’s what you call delight. Stocks rocketed—the tech-heavy Nasdaq rose 3%—as Wall Street applauded Donald Trump’s victory in Tuesday’s election. Most tech stocks rose in tandem—Tesla stock jumped 15%, reflecting the benefits CEO Elon Musk is expected to earn from his vocal support for Trump. 

Notably, one of the few tech stocks to lose ground was Meta Platforms, whose CEO, Mark Zuckerberg, is not exactly a Trump favorite. Apple was another stock loser—after rallying earlier in the day—which may be a sign that investors recognize the threat for the iPhone maker of Trump’s planned tariff increase.