Trumphobia sends markets down, gold soaring


From the Guardian:

‘Bigger than Brexit’: markets, US dollar plunge as Trump takes Florida

More from Forbes:

Markets around the world are beginning to price in a Donald Trump victory, as the Republican nominee’s path to the presidency becomes more likely by the hour. U.S. stock futures plunged, with Futures on the Dow Jones Industrial Average falling 697 points, or nearly 3.5%. At the open of trading, Asian stock markets were also cratering. The Hang Seng Index in Hong Kong tumbled 2.66%, while Australian markets fell by a similar measure.

Fear proxies like the U.S. dollar, gold and government bonds surged. Gold rose $38 to $1,313 a troy ounce, or over 2.98%.

The Mexican peso, the asset that has swung most violently depending on prospects for the presidential vote, plunged. On Tuesday, as Democratic nominee Hillary Clinton showed strength in early voting, the peso rose to two-week highs. However, it tumbled over 11.7% as of 10:38 p.m. ET when CNN has called the state of Ohio for Trump. Trump is firming his lead in swing states like Wisconsin, and is closing in on winning the state of Florida.

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