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.
Trump clinched victories in the key battleground states of Florida, North Carolina and Ohio, and he and Clinton remained in close battles in Michigan and Wisconsin, states that had been expected to land in Clinton's column.
With results in a mere handful of states still unknown, Trump had a lead in votes in the Electoral College, and Clinton's path to the presidency was looking increasingly difficult.
Financial markets reacted violently. The S&P futures ESc1 slid 5 percent and hit a limit down, meaning the contract could not trade lower, only sideways or up. Dow Industrials futures briefly fell 800 points.
Financial markets reacted violently. The S&P futures ESc1 slid 5 percent and hit a limit down, meaning the contract could not trade lower, only sideways or up. Dow Industrials futures briefly fell 800 points.
"It's kind of a shock-and-awe type response," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin.
Asian stocks slumped the most since June in volatile trading as Republican Donald Trump won the U.S presidential race, shocking investors who had expected Democrat Hillary Clinton to win.
The MSCI Asia Pacific Index fell 2.7 percent to 134.19 as of 5:10 p.m. in Tokyo, with short-term volatility spiking on Wednesday as Trump stunned traders by defeating Clinton to become the 45th president of the U.S. Markets from Japan to India fell the most since at least June 24, when Britain shocked investors by opting to leave the European Union, as investors dumped global risk securities and bought safe-haven assets including the yen and gold.
Nov 9 Japanese stocks dived more than 5 percent on Wednesday, posting their biggest daily drop since the Brexit poll in June as investors ran for cover with television network projections showing Republican Donald Trump closing in on a shock victory in the U.S. presidential election.
The Nikkei dropped 5.4 percent to end at 16,251.54 after swinging wildly in positive and negative territory as the exit poll results from the U.S. vote rolled in.
China stocks ended lower on Wednesday, but earlier losses were partially reversed, as worries eased over an increasingly possible shock U.S. election win for Republican Donald Trump.
The blue-chip CSI300 index fell 0.5 percent, to 3,353.5, while the Shanghai Composite Index lost 0.6 pct to 3,128.37 points.
Hong Kong stocks touched a 3-month low on Wednesday, losing early gains to tumble over 2 percent as investors fled risky assets as Republican Donald Trump claimed a shock victory in the U.S. presidential election.
The Hang Seng index fell 2.2 percent, to 22,415.19, while the Hong Kong China Enterprises Index <.HSCE > lost 2.9 percent, to 9,378.66 points.
Reference: Reuters.Bloomberg
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