As news broke that Donald Trump had been elected as the next President of The United States, markets fluctuated around the world.
As the election drew to its conclusion, the value of the pound rose against the dollar, but fell against the Euro. The value of gold also increased by 5%; the biggest single day gain since the day of the EU Referendum. Markets are braced for a period of volatility as the dollar has already weakened against “safe haven” currencies like the Japanese Yen, and German government bonds (seen as one of the world’s safest assets) have also fallen sharply.
Trump Speech Stabilises Markets
After Trump’s victory speech, markets stabilised. The FTSE 100 fell, but not by as much as was first predicted and European markets steadily gained ground throughout the morning. The Mexican Peso also recovered some ground against the US Dollar after an initial sharp decline, but major markets in Asia looked like a “sea of red” after heavy falls across the board.