The world watched how the citizens of the United States elected Donald Trump as president in what can be the most surprising and jittery night the country had. The Dow Jones had panicked earlier in the day but had closed positively and is up by 1.4 percent, the S&P up 1.1 percent, and the Nasdaq up 1.1 percent.
According to USA Today, US futures trading was off 630 points after it was down for 800 points. The futures market is used by traders to determine the stocks' value as soon as the regular trading resumes.
Furthermore, the value of the precious metal gold surged upwards of 5% and has a current value of $1,337.38 an ounce. According to the report, this has been the highest it has been since September.
In addition to that, US dollars has dropped by 4% against the Japanese Yen and 2% against the Euro. This was due to investors worrying about Donald Trump's threat to limit global trade. However, it seems like the Mexican Peso fell down 12% which might have been directly affected by the election of Donald Trump. He did once threaten to build a wall on the border between Mexico and the US.
However, much like his presidential campaign, the US stock rose after the Japan's Nikkei closed down by more than 5 percent. The Dow Jones moved to positive when the stocks opened defying most predictions. According to the Charlotte Observer, Peter Navarro who is the senior economic adviser of Donald Trump, said, "Everything points toward the direction of growth."
The market is still feeling worrisome regardless of this. Many are concerned the Donald Trump's policies which he mentioned during his presidential campaign might ignite trade wars most specifically with China which is its biggest trading partner and Mexico which is the third.
Donald Trump is yet to be proven as a political leader and the global market will surely feel the effects whether good or bad in the coming months.
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