The world’s financial markets endured some massive swings in the hours after Donald Trump pulled off his great Presidential swoop.
According to Bloomberg, the hardest hit was the Mexican peso, which fell as much as 12 percent before finishing down nine percent on election day.
The US dollar dipped more than 4.5 percent as news of Trump’s impending success began to emerge, although ironically it later surged the most since the day after Britain’s Brexit vote following Trump’s speech.
However, most of the world’s markets felt some impact, with South Africa’s rand falling 2.3 percent against the dollar, Korea’s won down 1.7 percent. Equities also fell with Taiwan’s Taiex down 3 percent and the Philippine benchmark PSEi index down 2.6 percent.
“Markets are reacting as though the four horsemen of the apocalypse just rode out of Trump Tower,” Australian-based strategist Sean Callow told Reuters.
