US stocks saw biggest inflow since June on day of Trump's election win: Bank of America [FOX Business Network]
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Source: FOX Business Network
Investors poured $20 billion into U.S. equity funds on Wednesday after President-elect Donald Trump was declared the winner of the presidential election, according to Bank of America. The bank's strategists, led by Michael Hartnett, reported that it was the biggest daily stock inflow since June, and the $2.9 billion that flooded into financials was the highest on record. The note said the biggest picture is that "Trump won big, as US voters cared more about inflation , inequality…immigration than low unemployment," and the Republicans' "big sweep" equates to "big policies," with the potential for $8 trillion in tax cuts, $3 trillion in tariff revenues and $1 trillion in spending cuts. Trump's victory over Vice President Kamala Harris was decisive, with the president-elect winning both the Electoral College and the popular vote. The GOP also won control of the Senate and is within striking distance of maintaining a majority in the House, but control of the lower chamber was stil
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