All three major indexes in New York close at record highs.

As former U.S. President Donald Trump won the presidential election, all three major New York stock indexes closed at record highs.

The Dow Jones 30 Industrial Average rose 3.57% to close at 43,729.93, its highest gain in two years.The

Standard & Poor's 500 index closed 2.53% higher at 5,929.04 and the Nasdaq Composite closed 2.95% higher at 18,983.47.

Expectations that the Trump administration's tax cuts and deregulation policies will have a positive effect on business activity have stimulated investor sentiment.

In addition, the so-called "Trump Trade" was clear, with "Trump Beneficiaries" rising on the prospect that Republicans are likely to take control of both the Senate and the House of Representatives.

Chief Executive Elon Musk's Tesla, which was active in winning Trump, jumped 14.75% to close at $288.53.