Markets Flock to Non-Traditional Safe-Haven Trades Like Bitcoin After Trump Shooting

According to Bloomberg, after Trump was shot at a rally in Pennsylvania, the market quickly flocked to non-traditional safe-haven assets such as Bitcoin and gold. Nick Twidale, chief market analyst at ATFX Global Markets, said that Asia will see protectionist or safe-haven flows into gold, the yen and the dollar, as well as U.S. Treasuries in the morning. Kyle Rodda, senior financial market analyst at Capital.com, said that he saw clients flock to Bitcoin and gold after Trump’s shooting. He said: “This news marks a turning point in American political norms and the emergence of greater political violence. For the market, it means safe-haven trading, but it is more biased towards non-traditional safe havens.”