Markets collapse on news of Trump win

Published: 07:21 GMT, Nov 9, 2016 |

Markets around the world have been plunged into turmoil on the news that Donald Trump is on course to win the US presidential race.

The US dollar sank and stocks plummeted on Wednesday as investors faced the prospect of a shock win by the Republican candidate, which is expected to have many political ramifications.

Investors are panicked over uncertainties on trade, immigration and geopolitical tensions, sending Dow futures and Asian stock prices sharply lower.

Trump has threatened to rip up trade deals like the North American Free Trade Agreement (NAFTA) and greatly restrict immigration to the US and to build a wall along the United States’ southern border and force Mexico to pay for it.

Japan’s major index recorded its largest drop in years, nose-diving more than 6.1 percent while Dow, the benchmark of stock measurements, plunged more than 4 percent.