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Impact of Trump’s Election Victory on Multiple Sectors

Donald Trump's election victory has had significant impacts on various sectors, more notably electric vehicles and pharmaceuticals, leading to a drop in value for companies like Rivian Automotive Inc. and Lucid Group Inc. The pharma sector anticipates changes with the potential appointment of Robert F. Kennedy Jr. Sanders criticized the Democratic party while Musk downplayed pressures faced by his companies.
MyShine November 10, 2024 1 min read
Why-It-Matters

President-elect Donald Trump’s victory has affected several sectors, causing a dip in the stocks of electric vehicle companies like Rivian Automotive Inc. and Lucid Group Inc. Trump’s perceived aversion to electric cars and plans to eliminate certain EV incentives under the Biden administration’s Inflation Reduction Act (IRA) has likely led to this reaction in the market.

The pharmaceutical industry also faced uncertainties with news that Robert F. Kennedy Jr. might hold a significant position in the Trump administration. Kennedy’s misinformation about vaccines and the resurgence of measles in the US have caused concern.

Post-election, Bernie Sanders expressed his disappointment with the Democratic party’s neglect of working-class issues, leading to the working class’s abandonment.

Former White House communications director, Anthony Scaramucci, candidly shared his views on Trump’s win and expressed hope for his successful tenure.

Elon Musk, CEO of Tesla and SpaceX, shared his perspective on the pressure he faced to shut down X, formerly Twitter, during an appearance on an online show hosted by Tucker Carlson.

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