During election night the market acted on its innate, media-driven fears. The media continued to believe its own stilted viewpoint. The media has in its heart actually ignored Trump until now, except when he acted the buffoon, or otherwise fit their desired narrative.
Then during the President-Elect’s first speech, something new and unexpected happened: the media was forced to actually see Mr. Trump for the first time. It actually looked at him, whereas previously it had only looked upon its caricature of him.
After the period of being stunned wears off, it will be interesting to see how the media and thus the market behaves.