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Donald Trump victory fears sees Nikkei plummet as markets react to Republican's gains in election | |
(35 minutes later) | |
The Mexican peso and the Japanese Nikkei 225 have both fallen as the markets reacted to the prospect of Donald Trump becoming the next US president. | |
Share prices in Asia and Australia gave up nearly all their earlier gains as the race for the White House tightened. | Share prices in Asia and Australia gave up nearly all their earlier gains as the race for the White House tightened. |
The Nikkei 225 in Japan had shown a 200 point rise but by 2.40am was in negative territory, down by more than 260 points. | The Nikkei 225 in Japan had shown a 200 point rise but by 2.40am was in negative territory, down by more than 260 points. |
Much of the action was in currencies where the Mexican peso has become a touchstone for sentiment on the election, as Trump's trade policies are seen as damaging to Mexico's export-heavy economy. | |
The peso has plunged throughout the night, losing nearly 8.5 per cent as a result of uncertainty over the result in Florida. | |
Australia’s benchmark All Ordinaries also moved into the red as both markets appeared to be tracking CNN’s coverage of the election with Donald Trump casting a dark pall over both markets which appeared to track sentiment towards him falling as it rose. | Australia’s benchmark All Ordinaries also moved into the red as both markets appeared to be tracking CNN’s coverage of the election with Donald Trump casting a dark pall over both markets which appeared to track sentiment towards him falling as it rose. |
The US election has started to resemble Brexit, with early expectations shattering as the evening moved on. | The US election has started to resemble Brexit, with early expectations shattering as the evening moved on. |
Sporting Index reports spread betting punters have been selling Clinton all night. | Sporting Index reports spread betting punters have been selling Clinton all night. |
At 2.14am it forecast 288 votes for Hilary Clinton in the electoral college that picks the president, still a victory but a narrow one with all the momentum favouring Mr Trump. | At 2.14am it forecast 288 votes for Hilary Clinton in the electoral college that picks the president, still a victory but a narrow one with all the momentum favouring Mr Trump. |
It had been as high as 330 votes. | It had been as high as 330 votes. |