2024 US Presidential Elections


Donald Trump retakes battleground states, secures victory to become 47th President of the US

Trump elected as new president of the United States after winning in key swing states

Former US president Donald Trump has been elected as the 4th president of the United States after comfortably winning the 2024 presidential election. The Republican candidate has secured more than 270 electoral votes after winning in key swing states such as Pennsylvania and Wisconsin. The Republican nominee has secured 277 electoral votes. Kamala Harris, meanwhile, obtained 224 electoral votes.

2024 Presidential Election results map

Cryptocurrencies

Bitcoin Price Forecast: BTC soars to a new all-time of $75,407 as Trump wins US presidential election

Bitcoin (BTC) soared over 7% to a new all-time high of $75,407 on Wednesday as Donald Trump was elected as the 47th President of the United States, the candidate that was seen as more favorable for crypto markets due to his pro-crypto stances. Technical indicators suggest BTC could head to the next target at the $78,777-$78,955 region, with reports highlighting the growing momentum of the so-called Trump trade, which is based on long positions in the US Dollar (USD), crypto, and higher Treasury yields.

Stocks

Tesla a particular benefactor amid Trump’s manufacturing focus

European markets are in a buoyant mood following a US election that saw Donald Trump sweep to power, casting aside any of the polling doubts that had recently emerged. Despite concerns around the potential implications for trade between the countries, we have seen widespread optimism that Trump’s pro-business stance will lift all boats. However, the one standout loser in all of this comes from the China region, with the Hang Seng falling over 2% as traders reacted to the increased chance that we will see a raft of protectionist tariffs imposed on exports into the US.



First reactions to election's results

Most asked questions on US Elections

What happened in the 2024 election?

The 2024 United States presidential election concluded with the Republican candidate Donald Trump winning his second non-consecutive term, defeating the Democrat candidate Kamala Harris. Trump secured 312 electoral votes to Harris's 226. Republicans regained control of the Senate and also kept the majority in the House of Representatives.

How are the candidates chosen?

In the United States, presidential elections are usually contested between the two main political parties: the Republican party and the Democratic party. Each party nominates a presidential candidate through a series of state primaries and/or caucuses. There are differences between the parties, a process that can differ fromstate to state.

One of the biggest polling days during this process is known as Super Tuesday, so-called by the fact that more than a dozen states hold their primary contests on that day. The results on Super Tuesday are therefore a strong indicator of the likely eventual presidential nominee of each political party.

How does the US presidential election work?

Candidates compete for 538 electoral college votes, with 270 needed to win. Each state's electoral votes, based partly on population, are won by the candidate who wins the most votes in that state. The winner-takes-all rule applies in most states, meaning the leading candidate receives all that state's electoral votes. Since most states lean toward one party, attention focuses on battleground states, where the outcome is less predictable.

Who can vote?

US citizens aged 18 or older are eligible to vote in the presidential election, which is held every four years.

Why are general elections held on Tuesday after the first Monday in November?

Election Day is strategically scheduled about a month before the Electoral College vote to avoid conflicts with the harvest and harsh weather in agrarian societies. Voting on Tuesday instead of Monday accommodated those traveling to vote, especially from remote areas, as Sunday was typically reserved for religious observance. By choosing the first Tuesday after the first Monday, lawmakers ensured Election Day never coincides with November 1, a date traditionally used by merchants to tally monthly accounts.

What is the lame-duck period?

The period between the election and the inauguration is known as the "lame duck period". During this period, the outgoing president transitions power to the president-elect.

US Elections Related content



US Elections Related content

Editors' Picks

EUR/USD struggles to retain 1.1500 as USD gains traction

EUR/USD struggles to retain 1.1500 as USD gains traction

EUR/USD hovers around the 1.1500 level in the American session on Friday. The US Dollar surges despite dovish comments from Fed Governor Waller, supporting a rate cut as soon as July. The mood sours as investors weigh Middle East developments. 

GBP/USD dives below 1.3500 after weak UK data, resurgent USD

GBP/USD dives below 1.3500 after weak UK data, resurgent USD

GBP/USD turned red for the day and approaches the 1.3450 area as the week comes to an end. Earlier in the day, the UK reported weak Retail Sales figures, although the ongoing slump seems related to renewed risk aversion fueling safe-haven US Dollar demand. 

 

Gold surges above $3,3360 as fears kick in

Gold surges above $3,3360 as fears kick in

Gold gathers near-term momentum and trades near $3,370 ahead of the weekly close, as risk sentiment took a turn to the south. Following a positive start, Wall Street turned south. Middle East tensions and massive back-and-forth missile exchanges between Iran and Israel seem to be behind the ongoing run to safety.

 

Ripple Price Prediction: How tokenized treasuries could accelerate XRP to $10 by end-2025

Ripple Price Prediction: How tokenized treasuries could accelerate XRP to $10 by end-2025

Ondo Finance launched tokenized treasuries on the XRP Ledger in June, paving the way for seamless institutional adoption. The market capitalization of tokenized treasuries has grown to $5.9 billion despite market uncertainty over US tariffs.

Weekly focus: War and risk of escalation weigh on market sentiment

Weekly focus: War and risk of escalation weigh on market sentiment

The war between Israel and Iran and the risk of further escalation weighed on markets this week. Equity markets largely traded in red and US treasury yields slid lower. That said, markets were by no means in full risk-off sentiment.

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