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Futures up: Dow 2.33%, S&P 500 2.02%, Nasdaq 1.66%

By Lisa Pauline Mattackal

Nov 6 (Reuters) - S&P 500 futures touched a record high

in sharp and broad-based rally on Wednesday after Republican

Donald Trump claimed victory in the U.S. presidential election.

Fox News projected that he had defeated Democrat candidate

Kamala Harris although other news outlets are yet to call the

race for Trump.

As election results started to trickle in, so-called Trump

trades rallied, U.S. Treasury yields surged, bitcoin hit

a record high and the dollar gained.

"Markets absolutely crave certainty," said Dr. David Allen,

portfolio manager, Plato Global Alpha Fund, adding that a Trump

victory was likely "priced in at the margins".

At 3:35 a.m. ET, Dow E-minis were up 986 points, or

2.33%, U.S. S&P 500 E-minis were up 117.25 points, or

2.02% and Nasdaq 100 E-minis were up 337.25 points, or

1.66%.

Futures tracking the small cap Russell 2000 soared

5.1% to the highest levels since early 2022, with the more

domestic-focused stocks expected to benefit from an easier

regulatory and tax regime, as well as be less-exposed to

potential import tariffs.

The Republican party also gained control of the U.S. Senate,

and posted early gains in the battle to maintain control in the

House of Representatives.

A so-called "clean sweep", in which one party captures the

presidency, the House and the Senate would give Trump an easier

route to push through desired legislation.

"I do think Trump 2.0 will be different from Trump 1.0... I

expect him to push through a lot of fast major legislation

within the first 100 days, so hold on to your hats," Allen said.

Analysts assume Trump's plans for restricted immigration,

tax cuts and sweeping tariffs if enacted would put upward

pressure on inflation and bond yields, while corporations could

benefit from his tax and regulatory policies.

Tesla's Frankfurt-listed shares soared

13%, with investors betting on the stock as top shareholder Elon

Musk has supported Trump throughout his electoral campaign.

(Reporting by Lisa Mattackal in Bengaluru; Editing by Arun

Koyyur)