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(Bloomberg) -- Donald Trump’s election victory has catapulted US stocks to fresh records and pushed the dollar to a two-year high. It’s anything but good news for the rest of the world. Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesNo Water by Year-End for This Zimbabwean City of 700,000 PeopleArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictEquities excluding the US are tumbling,

Daron Acemoglu, Simon Johnson and James Robinson shared the award for their work on the gaps in prosperity between nations.

The threat of an escalating conflict between Israel and Iran has created an “extraordinarily precarious” global situation, sowing alarm about the potential economic fallout.