View more on these topics

Global markets reel on Trump win

Shock election result is felt across global markets after Trump win

donald-trump-3-700x450

Donald Trump has taken out the US presidential election in a shock result, cinching the key swing states of Florida, Ohio, North Carolina and Pennsylvania.

Democratic nominee Hillary Clinton called Trump this morning to concede defeat.

Wall Street is bracing for its worst days on record, with the Dow Jones expected to drop over 800 points on opening. The largest drop on record came in 2008, when it fell 777.68 points.

The triumph of the unpredictable Republican nominee has sent shock waves through Asian markets, which were open as results came through.

The Japanese Nikkei lost 5 per cent, while the Yen has rallied against the dollar 3 per cent.

The Mexican peso, on the other hand, has reached its lowest point ever against the dollar, falling 13 per cent.

Its central bank will hold an emergency press conference due to the currency move and, according to Reuters, the key interest rate will be hiked 75 basis points.

Gold has jumped almost 5 per cent to $1,337.40

US markets are expected to fall steeply when they open later today.

Trump, a New York real estate developer who inherited his wealth from his father, was viewed as the underdog for the entire presidential campaign.

On Monday evening, polling website FiveThirtyEight predicted Trump had a 29 per cent chance of winning the election.

A Reuters/Ipsos poll put his odds even lower, predicting Clinton had “about a 90 per cent chance” of winning the election.

Recommended

USA-America-Flag-Washington-700x450.jpg
1

How Trump will impact investors

While a Clinton win would have been closer to business as usual, a Trump victory will likely cause significant changes that will have more implications for investors. Here I will highlight the key differences between each candidate’s specific policies. Donald Trump Aside from the fluctuations in the polls, this election brings an unusual level of […]

Buxton Richard Old Mutual
1

Richard Buxton: Never mind Brexit, stand by for President Trump

Let’s be charitable and blame the referendum. Most investors – in the UK, at least – appear so fixated by the gyrations of opinion polls they regard the prospect of Donald Trump actually becoming the next president of the US as laughable. The hair, the outrageous remarks on women, Muslims and foreigners. Populist ravings, wacky […]

USA-America-Flag-Washington-700x450.jpg
1

US markets upbeat as Clinton gains in final polls

US markets ended their nine-day losing streak on Monday as poll momentum returned in favour of Hillary Clinton ahead of the final day of voting in this year’s presidential election. It had been the longest losing streak for US markets in 35 years. The S&P 500, Dow Jones Industrial Average and Nasdaq were all up above […]

6

What the FCA wants to see on client comms

The FCA has recently published a paper on smarter consumer communications (FS16/10). It pulls together feedback on various issues around communicating information to consumers in a way that is compliant but also more engaging and relevant than is the case currently. It does not contain any proposed new rules or policy but it does signpost […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment