The U.S. steel sector experienced significant gains as major stocks rallied strongly. Cleveland-Cliffs (CLF, Financial) surged nearly 16%, Nucor Corporation (NUE) jumped approximately 13%, and Steel Dynamics (STLD) increased by almost 9%.
Analysts had previously suggested that the potential re-election of Donald Trump as U.S. President could lead to increased protective measures for the domestic steel industry, which may have fueled investor optimism and the subsequent rise in these stocks.
