Donald Trump’s election win shaped the stock market action early Wednesday, with a broad “Trump trade” pushing stocks, crypto, and other themes higher in a broad rally.

“The market initially is focused on all the potential positives of a Trump candidacy as far as lower regulations, lower taxes,” Truist Co-CIO Keith Lerner told Yahoo Finance.

Trades that had frequently moved with Donald Trump’s betting odds over the past month ripped higher as Trump clinched a victory over Kamala Harris in the presidential election.

Trump Media & Technology Group stock (DJT) soared over 30% early Wednesday before paring those gains. The stock, in which Trump owns several billion dollars worth of shares, had surged throughout Tuesday night as a Trump…