Markets in red after Trump’s victory

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From Trading Economics: Global financial markets are tumbling with stocks, commodities, the Mexican peso and the Dollar diving, as results of the US election showed Donald Trump won the race for the Whitehouse.

Market Snap

Market Opening Wrap

In Asian Equity Markets Japanese stocks skidded more than 3 percent to a 5-week low on Wednesday morning as financial markets were shaken by exit polls showing Republican presidential candidate Donald Trump pulling ahead of Democratic rival Hillary Clinton in a tight U.S. election battle. At the midday break, the Nikkei fell 2.2 percent at 16,788.90 after earlier tumbling as much as 3.1 percent to hit 16,646.04, the lowest level since Oct. 4. The broader Topix fell 2.3 percent to 1,332.64 and the JPX-Nikkei Index 400 shed 2.3 percent to 11,942.64. The Australian index, S&P/ASX 200, fell 2.37 percent, while the Shanghai Composite Index fell 0.65 percent.

In Currency Markets the dollar fell more than three percent against the yen while the Mexican peso sank to a record low on Wednesday, as Republican Donald Trump took a shocking lead in the fiercely-contested U.S. election. The dollar fell 3.8 percent to 101.210 yen, while the Mexican peso weakened more than 13 percent to an all-time low of 20.75 pesos per dollar. The dollar fell 2.3 percent against the Swiss franc to 0.9552 franc and the euro rallied 2.5 percent to a two-month high of $1.1300. Sterling was up 1.3 percent at $1.2545. The Australian dollar fell 2.2 percent to $0.7595. The Aussie sank 5.9 percent to 76.95 yen, suffering its deepest intraday loss since May 2010.  The Canadian dollar fell to an eight-month low of C$1.3525 per dollar.

In Commodities Markets  oil prices fell on Wednesday as vote counting showed Donald Trump edging ahead in an unexpectedly tight U.S. presidential election, throwing world markets into turmoil in a result reminiscent of June's Brexit vote.  U.S. West Texas Intermediate crude futures fell to a session low of $43.07 per barrel, down more than 4 percent from their last close and their lowest since September, before edging back to $43.72 a barrel by 06:01 GMT. International Brent crude futures were down 2.43 percent at $44.92 a barrel. Spot gold rose as much as 4.9 percent to $1,337.40 an ounce, its strongest since Sept. 27. Spot silver rose as far as $18.996 an ounce, its highest since Oct. 3, and was last up 2.9 percent at $18.87.

In US Equity Markets  stocks rose for a second straight session on Tuesday as investors bet Democratic candidate Hillary Clinton would win the U.S. presidential election. After starting the session at a slight loss, the Dow Jones industrial average ended up 0.4 percent at 18,332.43 points and the S&P 500 gained 0.38 percent to 2,139.53 points. The Nasdaq Composite added 0.53 percent to 5,193.49 points. U.S. stock index futures crashed in the overnight session into Wednesday as a market that had been expecting a victory by Democrat Hillary Clinton scrambled to adjust bets as Republican Donald Trump looked increasingly likely to win the White House. At 05:52 GMT S&P 500 e-minis were down 4.67 percent and Dow e-minis were down 3.92 percent.

In Bond Markets  Japanese government bond prices edged up on Wednesday against a backdrop of global market turmoil as Republican Donald Trump took an unexpected lead in the U.S. presidential election. The 10-year JGB yield edged down 1 basis point (bp) to minus 0.080 percent after falling as low as 0.085 percent, its lowest since Sept. 30. In the superlong zone, the 20-year JGB yield fell 1 bp to 0.350 percent, while the 30-year yield fell 2 bps to 0.475 percent. Germany's 10-year Bund yield was down 7 basis points at 0.10 percent. Early cash trading also pointed to sharp falls in euro zone bond yields.

Source: Institute of Trading and Portfolio Management