Trump trades roiled after debate with Harris

STORY: U.S. presidential betting markets swung in Kamala Harris’s favor following her debate with Donald Trump.

And investors scrambled to shift their positioning on Wednesday.

Shares of Trump Media & Technology Group, the company that owns Truth Social, plunged as much as 18% in Wednesday morning trading.

Trump has a more than 50% stake in the company, which has a total market value of $3.7 billion.

Its shares are popular among retail traders and sensitive to the former president's chances of a win in the 2024 election.

Cryptocurrency-related stocks also fell.

Trump has positioned himself as a pro-bitcoin candidate whose return could mark a win for the industry that has accused the current administration of regulatory overreach.

One strategist told Reuters that crypto and energy stocks might face headwinds as market sentiment adjusts to the shifting political dynamics.

Though one type of energy company did see stock gains… solar firms... as they are seen as benefiting from a Harris win in November.