Donald Trump elected as the 45th president for the USA is tremendously quite shocking for most of the nation. He won many crucial states which is still not being accepted by most Americans. As Donald Trump was elected the president ahead of the competitor Hillary Clinton, the equities in Pakistan slumped too. In fact the world markets rattled ion Trump’s victory.
The KSE-100 index also went down by 761 points or by 1.8% just early morning. Trump received negative remarks all around the world because many fear his policies would wreck the economy. Thus, the world market’s rattled on Trump’s victory. The race had 240-209 votes to make up for 270 electoral votes. While the KSE recovered half of its losses, it is still down by 428 points or 1.02% till 10:30 am.
The world around on trump’s shocking victory
All around the world, the safe haven assets have rallied. Investors have gone running for cover while the yen and gold went higher. The initial market confidence in Hillary Clinton was abruptly shaken. She was a safer bet than Trump as he is a lose cannon for them. The Tokyo session also ended 2.2% down even though it was up by more than 1% at some point too. Hong Kong, Shanghai, Sydney, Seoul, Singapore, Taipei, Jakarta, and Wall Street went down by 2.1, 1, 1.7, 1.7, 1.4, 1, 1, and 2.6% respectively too.
The Mexican peso was battered due to Trump’s anti-immigrant campaign earlier. It tumbled to record low against dollar too. At one point it hit green to 19.8610 pesos up. This was also 10% up from the earlier low but closed at record low of 19.93 pesos. Thus, the peso is the proxy for Trump chances of anti-Mexican views.
The dollar, though, tumbled against Yen since Yen is considered safe in uncertainty and turmoil. It was at 102.40 yen down from 105 above a day back. The Euro was raised 1% against the dollar as gold went up by 1.6% to $1305. Oil also got affected as WTI sank 3.3% and Brent came lower by 2.8%.
There’s more as the world markets rattled on Trump’s victory. The STOXX Europe 600 fell 1.1% while London shares and wealth managers also fell. Europe’s largest lender HSBC fell 2.8% in stocks. However, Swiss stocks went up 0.7% while health care stocks rose 2.6% too. Japan’s Nikkei opened higher but mid-session saw a horrific change as the decision came. There was no recovery thereon and it closed 5.4% down too.