The S&P 500 Index fluctuated as losses in consumer and technology companies offset a rally in health-care and bank shares.
Mexico’s peso slid on prospects the integration with the US will unravel, while gold and the yen rose on haven demand. Copper soared on the outlook for more infrastructure projects.
“It’s an amazingly impressive recovery off the lows for risk assets,” said Craig Collins, managing director of rates trading at Bank of Montreal in London.
“It’s very surprising given the feel the session had to start with, that it was a massive risk-off flight to quality bid,” he said.
A Trump victory had been portrayed by analysts as having the potential to unhinge markets.
Mr Trump has pledged to clamp down on immigration to the US and renegotiate free-trade agreements with countries including Mexico.
In his victory speech, he pledged to focus on rebuilding US infrastructure.
US stocks fluctuated as speculation Mr Trump will pursue business-friendly policies offset some of the broader uncertainty surrounding his ascent.
“Markets generally don’t like one party to have complete control,” said Michael Antonelli, of Robert W. Baird & Co. in Milwaukee.
“The Republicans have been a market-friendly party. I think part of the reason the market rallied is because it looks like they’re going to take all three. But Trump is this big question mark.”
US healthcare shares surged as investors unwound bets that a win by Hillary Clinton would bring intense regulatory scrutiny.
During the election campaign, Mr Trump pledged to cut taxes and outlay as much as $500bn (€453bn) on infrastructure, both policies that could widen the budget deficit and stoke inflation. Mexico’s peso tumbled to a record, sinking 9.3% to 20.2044 per dollar.
Mr Trump has pledged to renegotiate the North American Free Trade Agreement and curb illegal immigration by building a wall along the US’s southern border.