Markets reel as Trump wins US presidency


Donald Trump has taken out the US presidential election in a shock result, cinching the key swing states of Florida, Ohio, North Carolina and Pennsylvania.

Democratic nominee Hillary Clinton, who took out Nevada, had still not conceded at 7.30am Wednesday morning UK time.

Wall Street is bracing for its worst days on record, with the Dow Jones expected to drop over 800 points on opening. The largest drop on record came in 2008, when it fell 777.68 points.

The triumph of the unpredictable Republican nominee has sent shock waves through Asian markets, which were open as results came through.

The Japanese Nikkei lost 5 per cent, while the Yen has rallied against the dollar 3 per cent.

The Mexican peso, on the other hand, has reached its lowest point ever against the dollar, falling 13 per cent.

Its central bank will hold an emergency press conference due to the currency move and, according to Reuters, the key interest rate will be hiked 75 basis points.

Gold has jumped almost 5 per cent to $1,337.40

US markets are expected to fall steeply when they open later today.

Trump, a flashy New York real estate developer who inherited his wealth from his father, was viewed as the under dog for the entire presidential campaign.

On Monday evening, polling website FiveThirtyEight predicted Trump had a 29 per cent chance of winning the election.

A Reuters/Ipsos poll put his odds even lower, predicting Clinton had “about a 90 per cent chance” of taking out the election.