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Nasdaq and S&P futures hit 5% crash limit, Mexican peso sent into tailspin by US elections
While
the winner of the US presidential race is yet to be announced, Donald
Trump’s strong performance has had a turbulent impact on the
markets. Both Nasdaq and S&P futures have hit their five percent
down limits, triggering a trade halt.
The
currency market is seeing a strong hit as Trump takes the election
lead with the Mexican peso witnessing a strong nosedive along with
the US dollar at the start of trade in Asia.
The
Mexican Peso sank over 10 percent to 20.20 pesos to $1 as Trump
steamed ahead in the polls.
RT America
BREAKING: #DonaldTrump has taken the crucial swing state of Ohio, leads #Clinton 168-109
“Markets
[are] getting increasingly nervous about the outcome,” Andres
Jaime, global FX and rates strategist at Barclays told CNBC.
Prior
to voting, the Mexican peso strengthened 1.3 percent against the
American dollar on Tuesday, as Democratic nominee Hillary Clinton
looked like she had consolidated a firm lead against her Republican
opponent just ahead of the election.
Financial Times
Breaking News: The Mexican peso has seen its steepest dive in more than 20 years tonight http://on.ft.com/2fYGRPo
US
crude oil futures have also taken a hit, falling 4 percent below the
previous $43.17 per barrel. The Dow Jones Industrial Futures fell 500
points, or nearly 3 percent.
Overall
stocks in Tokyo, Hong Kong and other major markets fell by as much as
2 percent as Trump began to extend his lead, The New York Times
reported.
In
the meantime gold and government bonds surged, with the precious
metal rising over 3 percent to $1,315 per troy ounce.
Dan Stewart, CFA
On
Wall Street, Dow Jones industrial average futures slid more than 700
points at one point on news of Trumps steering to victory. The
Standard & Poor’s 500-stock index sank more than 100 points,
while the tech-heavy Nasdaq dropped over 200 points, Washington Post
noted.
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