Asian stocks have fallen sharply as Donald Trump beat Hillary Clinton in the race for the White House.
The 2016 US Elections have caught many people and places including the Asian markets with surprise after Donald Trump emerged as the winner. All Asian markets saw the flowing of money into gold, safe stocks and currencies such as the Yen to a lower close.
Likened to the unexpected Brexit impact in June 2016 to some extent, the US Elections 2016 dropped the Japanese Nikkel 225 by 5.4 % with the US and European markets expected to perform poorly on Wednesday.
U.S. stock futures plunged, with futures on the Dow Jones Industrial Average falling 792 points, or over 5.1%.
At the open of trading, stocks in London were plunging over 4.3%.
US Elections 2016 results also resulted in a drop in the Hang Seng in Hong Kong by 2.2% the Australia’s 200 by 1.9%, loss of 0.6% on Shangai Composite while South Korea’s Kospi closed at a 2.7% decrease.
The considered safe haven currency in times of volatility in the international matters, Japanese Yen, was strengthened by the US Elections 2016 by 3 % against the dollar.
Donald Trump’s election to the Presidency affected the Mexican peso to the lowest fall in two decades of 13% against the US currency. Trade between the Mexican is expected to worsen after Donald Trump pledged to build a wall on the two countries’ border if he wins the US Elections 2016.
Mr Trump’s victory was a “step into the unknown” said chief US economist at Capital Economics, Paul Ashworth.
Donald Trump’s victory on the US Elections 2016 is viewed widely to impose negative economic ties with the Asian nations. On his campaign, Donald Trump occasional talked about stiff regulations on Chinese imports and the job market.
In disbelieve, however, many world leaders have thrown their weights to congratulate the new US president-elect giving hopes for stable businesses soon in the foreign exchange market.
Nobody knows how the US Elections 2016 winner Donald Trump will conduct his presidency. Donald Trump made so many threats to his political opponents, the media, and even US’s partner countries during the campaigns. Maybe he will come around soon to statesmanship and lead a more prosperous economy as he pledged during his hunt for votes.