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    • Fidelity and E-trade ‘down’, with customers fuming over login problems, while shares hit record highs after Trump’s victory
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    Fidelity and E-trade ‘down’, with customers fuming over login problems, while shares hit record highs after Trump’s victory

    Vaseline Posted on

    TRADING sites are struggling to keep up with the rising stock market following Donald Trump’s triumphant return to the White House.

    Fidelity and E-Trade users reported a wave of outages on Wednesday morning after a historic election victory for Trump and the Republicans.

    Traders at the New York Stock Exchange wore Make America Great Again hats and went to work following Donald Trump's shocking presidential victory

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    Traders at the New York Stock Exchange wore Make America Great Again hats and went to work following Donald Trump’s shocking presidential victoryCredit: Reuters
    One trader was seen seeing stocks soar to historic highs as investors predicted lower taxes and deregulation under Trump's leadership

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    One trader was seen seeing stocks soar to historic highs as investors predicted lower taxes and deregulation under Trump’s leadershipCredit: Reuters
    Trump, seen in July, has been a strong supporter of cryptocurrency

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    Trump, seen in July, has been a strong supporter of cryptocurrencyCredit: AP

    According to Downdetector, many users started having problems with the sites around 9:30 am.

    At its peak, more than 1,700 users reported abuse on E-Trade, and more than 900 were unable to access Fidelity accounts.

    One Fidelity user mourned the lack of access on a day when “the markets are so volatile.”

    “Cannot access balance. Bring it together Fidelity,” they wrote on Downdetector.

    Read more about the elections

    One E-Trade user slammed the company for preventing them from buying or selling shares on such a crucial morning.

    “Mobile app frozen when market is open,” they wrote.

    “Get this crap fixed.”

    One user called the Fidelity app “unusable” on X, forcing the investment firm to respond.

    “We are aware that some customers may be experiencing issues with certain features on Fidelity platforms and are urgently working to resolve this,” the company said.

    “We apologize for any inconvenience caused.”

    Donald Trump takes the stage and declares victory

    E-Trade did not respond to a request for comment.

    According to Downdetector statistics, other financial sites started experiencing problems later in the morning, including Morgan Stanley, UBS and Raymond James.

    MARKET SHIFT

    The blackout occurred almost simultaneously with the opening bell of the New York Stock Exchange, which heralded a flood of excited traders betting on what the new world under Trump’s leadership would look like.

    As usual, markets saw a slump before the election as investors waited with bated breath to see where the federal government would turn.

    Now that Republicans have taken over the White House and Senate, traders are making a historic return to the market.

    5 risks of crypto investments

    BELOW we round up five risks of investing in cryptocurrencies.

    • Consumer protection: Some investments that advertise high returns based on crypto assets may not be subject to regulation beyond anti-money laundering requirements.
    • Price volatilityThe significant price volatility of crypto assets, combined with the inherent difficulties in reliably valuing crypto assets, poses a high risk of loss for consumers.
    • Product complexity: The complexity of some products and services related to crypto assets can make it difficult for consumers to understand the risks. There is no guarantee that crypto assets can be converted back into cash. Converting a crypto asset back to cash depends on the supply and demand in the market.
    • Costs and fees: Consumers should consider the impact of fees and charges on their investment, which may be greater than that for regulated investment products.
    • Marketing materials: Companies may overestimate the returns of products or underestimate the risks.

    Wall Street’s major indexes rose to record highs on Wednesday as investors predicted lower taxes and deregulation under Trump’s leadership, Reuters reported.

    The S&P 500 rose 1.8% in morning trading, and the Dow Jones Industrial Average rose 1,315 points, or 3.1%.

    Investors rallied around some of Trump’s favorite topics, including natural gas and oil, cryptocurrency like Bitcoin and Elon Musk’s electric car brand Tesla.

    Bitcoin soared to record highs of $75,000 during vote counting as Trump scored a lead over rival Kamala Harris.

    It comes when…

    • JD Vance said the victory is the “greatest political comeback in American history.”
    • Kamala Harris refused to speak to the media when Trump took the lead.
    • According to AP, Trump has won the battleground states of Georgia, North Carolina and Pennsylvania.
    • Trump’s team started celebrating early with a chant when he won North Carolina.
    • Republicans took control of the Senate after Ted Cruz was re-elected in Texas.
    • Firefighters were forced to help recount 30,000 votes as the polls faced chaos on election night.

    The president-elect was previously skeptical of the cryptocurrency but made a shocking about-face after making friends with billionaire CEO Musk.

    “Crypto is one of those things we have to do,” Trump wrote on X in September.

    “Whether we like it or not, I have to do it.”

    However, traders also predicted that the US would see higher inflation from 2025 as Trump has pushed to tax imports from countries such as China.

    Trump’s main policy points

    DONALD Trump closed the Republican National Convention on July 18, telling his supporters he wanted to be president for “all Americans.”

    • Implement tax cuts, including no tax on tips.
    • Protecting Social Security and Medicare – Trump said, “Incomes will skyrocket and the middle class will thrive like never before.”
    • Protecting borders – He promised to end the ‘border nightmare’. That means two things on day one: “Drill baby Drill,” as he said, and closing the borders.
    • Finishing building the wall.
    • Keeping our ‘sons and daughters safe’.
    • Replenishing the military and building a military ‘dome’ – Trump insisted he could stop wars with just a phone call and said no army would be able to invade the US if he came to power.
    • Ending the war in Ukraine and imposing tariffs on Iran.
    • Promises to ‘defeat’ China.
    • Working to lower prices and alleviate inflation.
    • Reducing energy costs.
    • Making cities ‘safe, clean and beautiful’ again.
    • Making it possible for Americans to buy gasoline-powered cars by ending the electric vehicle mandate on the first day of his presidency.

    “Trump continues to openly tell people that he will raise tariffs not just on China, but on all trading partners,” Andrzej Skiba, head of BlueBay US Fixed Income at RBC Global Asset Management, told the Associated Press.

    ‘We are talking about tariffs of 10% for all global partners.

    “This is a big problem because it could increase inflation by 1%.”

    Trump delivered a powerful speech at 2:30 a.m. on Wednesday morning after it became clear he would be returned to power.

    He called his campaign “the greatest political movement of all time” and promised to “help heal the country.”

    “There has never been anything like this in this country, and perhaps beyond,” he said.

    Vaseline
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