Dow Jones futures surged more than 1,300 points on the Trump election win. Tesla stock soared to new highs Wednesday.

With Trump’s victory in the books, the Trump Trade is dominating global markets and everything is green. Stocks have soared for months on a combination of upbeat earnings and rate-cut expectations.

Markets worldwide have been fixated on what the election will mean for U.S. economic, monetary and trade policy, as well as ...