Donald Trump’s election has divided the financial markets, particularly affecting DAX companies. While some firms, like Rheinmetall, surged due to anticipated increased defense spending, others, including major automotive companies and Bayer, experienced steep declines. Analysts highlight a prevailing ‘Trump Effect’ with fears of tariffs on European exports particularly harming German automakers. Additionally, export-oriented businesses, reliant on U.S. markets, face uncertainty amid potential protectionist policies. Companies like SAP and Deutsche Telekom could benefit from U.S. tax cuts, while renewable energy firms worry about a shift towards fossil fuels.