深夜，暴涨！发生了什么？

Core Insights - Argentina's assets experienced a significant surge following the midterm election victory of President Milei's ruling coalition, with the main stock index soaring over 20% and the Argentine peso appreciating more than 10% against the US dollar [2][6]. Argentina's Political and Economic Landscape - The ruling coalition "La Libertad Avanza" led by President Milei won more seats in the midterm elections, which is expected to facilitate the continuation of his economic reform policies known as "shock therapy" [6][7]. - The election results alleviated major uncertainties regarding policy continuity, reflecting public concern over potential economic turmoil if Milei's fiscal policies were abandoned [6][7]. - Despite the victory, the ruling coalition and its allies did not secure a majority, indicating that the fundamental dynamics of Congress remain unchanged [6]. Market Reactions - Following the election results, the Argentine stock market and currency experienced dramatic increases, signaling investor optimism regarding the government's ability to implement reforms [2][6]. - Concurrently, the US stock market also saw significant gains, with major indices reaching all-time highs, driven by a positive sentiment stemming from eased trade tensions and expectations of Federal Reserve interest rate cuts [3][4]. US Market Dynamics - The US stock market's rally was supported by a strong performance from large tech stocks, particularly in the semiconductor sector, with Qualcomm's stock surging over 21% due to its new AI chip offerings [3][4]. - The Federal Reserve's anticipated interest rate cuts contributed to the bullish market sentiment, with a 96.7% probability of a 25 basis point cut in October [4]. Investor Sentiment on AI - A hedge fund, Coatue Management, expressed confidence in AI investments, suggesting that the long-term fundamentals remain strong enough to support continued investment in the sector, despite concerns about a potential AI bubble [4].