Stock markets fall, dollar tumbles after Trump’s victory

Stock markets fall, dollar tumbles after Trump’s victory

World Stock Markets News

HONG KONG: The world stock markets reacted election
of Donald Trump as the new US President \very negatively’,
Business92 reported Wednesday.

The shares prices fell significantly just as they dropped on
September 11, 2001 when the twin towers at New York attacked.

Shares markets

Tokyo collapsed 5.5 percent by the break while Hong fell almost
three percent and Shanghai sank 1.3 percent.

Sydney gave up more than two percent, Seoul shed three percent
and Singapore dived 1.2 percent. Wellington plunged 3.3 percent
while there were also losses of more than two percent for Taipei. Jakarta,
Manila and Bangkok were all down more than one percent.

The Sensex on the Bombay Stock Exchange was more than two
percent off having initially plummeted more than six percent as
Trump’s impressive performance was mixed with news that high
denomination notes were being pulled from circulation as part of a
crackdown on tax evasion.

Futures on the S&P 500 and Nasdaq on Wall Street were more than
five percent down while those on the Dow were off four percent.

Pakistan Stock Exchange

Pakistan Stock Exchange also did not take Trump’s victory positively
and the benchmark KSE-100 index declines by more than 500 points
during intra day trade. However, it managed to erase losses and
witnessed gains at the end of the session.

Dollar falls

The dollar tumbled against the yen as investors rushed into the Japanese

unit, which is considered a safe bet in times of uncertainty and turmoil.
The greenback was hovering just above 101 yen, having sat above 105 Tuesday.

The euro also rose 2.1 percent against the dollar, while gold soared
5.4 percent to $1,337.00 an ounce.

The Mexican peso also fell to a record low as safe haven assets rallied,
with gold soaring more than five percent.

High-yielding currencies in Asia-Pacific were battered against the dollar,
with the South Korean won down 1.8 percent, Australia’s dollar 0.9 percent
off, Indonesia’s rupiah down 1.1 percent and the Malaysian ringgit 0.5 percent lower.

Crude oil declines

Oil prices plunged, with WTI sinking 3.5 percent and Brent three percent down.

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