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Futures slide as Trump wins U.S. presidential election 

November 9, 2016

Rodrigo Campos, Reuters

U.S. stock index futures sank in the overnight session into Wednesday as a market that had been expecting a victory by Democrat Hillary Clinton scrambled to adjust to an upset win by Republican Donald Trump.

S&P 500 futures pared losses by more than half as Trump took the stage at his Manhattan headquarters striking a conciliatory tone. He began by thanking Clinton for her many years in public service.

"His victory speech helped turn markets a bit," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin." He sounded conciliatory and didn't bring up tariffs or the wall, which were probably two of the market's biggest concerns."

Trump campaigned strongly on taxing imports from Mexico and China and building a Wall in the southern border which Mexico would pay for. He also said if he was president Clinton would be in jail.

Through the night, financial markets reacted violently as the results beat the polls and closed Clinton's path to victory. The S&P futures ESc1 slid 5 percent and hit a limit down, meaning the contract could not trade lower, only sideways or up. Dow Industrials futures briefly fell 800 points. Read more

 
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