Wall Street roared to life Wednesday after a tumultuous day of trading in global financial markets amid hopes that Donald Trump would reinvigorate the American economy by combining big tax cuts with new government investments, The Washington Post reported yesterday. What initially was a panicked global sell-off Tuesday night transformed into a near-record high for Wall Street by Wednesday. The turnaround began as Trump struck a conciliatory tone, calling on voters to “bind the wounds of division.” The blue-chip Dow Jones industrial average surged ahead about 250 points close to an all-time high — despite futures markets overnight signaling a decline of as much as 800 points. The Standard & Poor’s 500-stock index and Nasdaq each gained about 1 percent. On the campaign trail, Trump delivered a potent blend of economic populism and business-friendly rhetoric that ultimately propelled him to victory. He has pledged to slash corporate taxes from 35 to 15 percent and streamline and lower individual tax rates. In addition, Trump called for $1 trillion in spending on infrastructure, drawn from both the federal government and the private sector. Such moves, he said, would jump-start economic growth in a recovery that has repeatedly proved disappointing.
