Before the election, there were dire predictions about a Donald Trump presidency may mean for the US stock market, with some prognosticators calling for a -7% (seven sigma!) drop on the first day. Those grim forecasts appeared on point on election night, when U.S. markets were halted limit down (-5%) at one point overnight.
Global stock and commodity prices are flying as the market is expecting that President-elect Donald Trump will undo the over-regulation that has put the economy in shackles these long 8 years. There is growing excitement that the removal of the Dodd-Frank law and the repeal and replacement of Obamacare, and massive infrastructure and defense spending will allow the economy to finally grow.
Even we were a bit shocked that “The Donald” and his team actually pulled it off. Yet, it is a measure of just how much disenfranchised older white workers and even a select subset of younger voters were fed up with the "business as usual" inside-dealing and advantage to the largest and richest, which the Washington DC establishment has supported over the past 16 years.
Donald Trump's election as U.S. president triggered fears that his view that global warming is a hoax might lead other nations to scale back ambitions under a landmark climate change deal, while renewable energy stocks fell on world markets.
Donald Trump's victory in the U.S. election sent shockwaves through industries that rely on open trade, from airlines to cars and IT outsourcing, even though many executives remain unsure what his protectionist rhetoric will mean in practice.
OPEC's job of trying to prop up oil prices has just got much harder. With Donald Trump winning the U.S. presidential election, the 14-country oil-producing cartel may have to battle a sourer outlook for the global economy and weaker demand for crude.
Donald Trump's economic advisor Peter Navarro on Wednesday sought to reassure the markets, saying the Republican president-elect would help boost economic growth once in the White House, aided by a Republican-controlled Congress.