No market meltdown as Trump towers over the globe

No Brexit wipe out

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No market meltdown as Trump towers over the globe

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US and global markets have resisted a Brexit type wipe out after Trump triumphed in the US presidential election.

As the result was announced the Dow Jones fell and S&P dropped to the five percent cut-off point.

Oil prices slipped and the Mexican peso hit a record low.

Markets received a boost from pre-election polls predicting a Clinton win. That has now been lost as Jonathan Corpina from Meridian Equity Partners explained: “We had a run-up in the market two days ago. We were up 2 percent, so this is pretty much wiping out the 2 percent that we gained two sessions ago. If we continue to see continual pressure on the market, then I’d be concerned. But at this early stage right now, I think this is just the healthy movements of our markets.”

Analysts predict that the fall out from the Trump victory will continue to wobble stocks for the next 48 hours. Carsten Brzeski from ING Diba is one of them:“For markets it is a deja-vu, it is a ‘Brexit 2.0’, and it is going to take a couple of days, maybe weeks, before they have re-digested the outcome.”

Across Europe UK’s FTSE 100 index lost two percent at the start of trading before recovering to show a gain by the end of trading.

France’s Cac index and Germany’s Dax were also positive after bouncing back from two percent losses.