U.S. stock futures are dropping as traders consider a future with Trump in the White House.<\/p>\n
The Dow Jones industrial average, S&P 500 and Nasdaq are all down by roughly 2% to 3% ahead of the open. Losses were more dramatic earlier in the night with Dow futures plunging more than 900 points.<\/p>\n
Dow futures are now off by only about 300 points.<\/p>\n
Investors are concerned about Trump’s unpredictable nature and anti-trade stance, which could result in global turmoil during his presidency. But there are hopes that President Trump will be different than candidate Trump.<\/p>\n
“The first speech by President-elect Trump has had a calming effect on the markets,” said Kathleen Brooks, a research director at City Index in London. “Trump definitely sounded more presidential than he has done at any stage during the election campaign.”<\/p>\n
It’s worth noting that regardless of which candidate wins, stocks typically sell off the day following an election. Case in point: The S&P 500 dropped just over 5% the day after President Obama was elected in 2008.<\/p>\n
Looking abroad, European markets posted minor declines in early trading, with many indices down by 1% to 2%.<\/p>\n
Asian markets closed out the day in the red. Tokyo’s Nikkei led the declines with a 5.4% loss.<\/p>\n
The main Middle Eastern markets also declined by about 1%.<\/p>\n
2. Peso plunge: <\/strong>The Mexican peso is getting clobbered in reaction to the U.S. election results.<\/p>\n At one point overnight, the peso was down as much as 11% versus the U.S. dollar, hitting an all-time low. It’s since recovered a bit but is still down by about 8% in early morning trading.<\/p>\n Mexico’s largest trade partner is the U.S. But Trump has attacked Mexico from Day 1 of his campaign and threatened to build a wall between the two countries. The peso is falling hard as traders fret about deteriorating relations between the countries.<\/p>\n 3. Seeking a safe haven: <\/strong>Investors typically rush to invest in gold during times of market uncertainty. Today is no exception.<\/p>\n Gold prices rose by 3% as investors bought into the so-called safe haven asset.<\/p>\n The Swiss franc and Japanese yen also got a boost because they are viewed as steady rocks during times of turmoil.<\/p>\n Mining and pharmaceutical stocks were also performing well in Europe.<\/p>\n –<\/p>\n Source: CNN<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" U.S. stock futures are dropping as traders consider a future with Trump in the White House. The Dow Jones industrial average, S&P 500 and Nasdaq are all down by roughly 2% to 3% ahead of the open. Losses were more dramatic earlier in the night with Dow futures plunging more than 900 points. Dow futures […]<\/p>\n","protected":false},"author":14,"featured_media":266553,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[32,107],"tags":[264,13470,1502,13471,13472,13473,13474,13475,4924],"class_list":["post-266658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-international","tag-donald-trump","tag-dow-jones","tag-gold","tag-nasdaq","tag-nikkei","tag-peso","tag-swiss-franc","tag-tokyo","tag-white-house"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/266658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=266658"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/266658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=266658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=266658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=266658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}