SGX:ALP 8 January 2026

May 2, 2026, 4:40 AM EDT. Stock markets hit record highs under President Donald Trump, with the Dow, S&P 500, and Nasdaq trade indexes surging by 57%, 70%, and 142% respectively during his first term. Key drivers include artificial intelligence (AI) advancements, which PwC values as over a $15 trillion opportunity by 2030, and consistent corporate earnings beating expectations. Crucially, Trump's Tax Cuts and Jobs Act reduced corporate tax rates to 21%, the lowest since 1939, enabling companies to keep more profits, fueling stock buybacks and market gains. However, this tax policy shift may increase the risk of a market correction or crash, according to analysts, as it alters the financial landscape and investor optimism. The balance between growth and looming vulnerabilities highlights growing uncertainty on Wall Street.