Huge upset as Trump wins White House and world markets tumble
Although most polls pegged him as a decided underdog, Republican Donald Trump beat Democratic nominee Hillary Clinton to become the next President-elect of the United States. The odds of a Trump win changed dramatically over the course of Tuesday evening:
-- NYT Graphics (@nytgraphics) November 9, 2016
World markets promptly nosedived:
- Dow futures were down as much as 850 points, pointing to a steep decline Wednesday morning
- According to Business Insider, both Nasdaq and S&P 500 futures hit a "limit-down, or the maximum amount by which they're permitted to fall before trading restraints kick in."
- Japan's Nikkei fell more than 5% by 1 a.m. ET Wednesday, as the election had all but been called
- IIROC, which oversees stock trading in Canada, "changed trading rules for tomorrow ahead of 'potential for increased volatility,'" according to Financial Post reporter John Shmuel
Treasuries, oil, and the U.S. dollar dropped sharply. Gold spiked:
-- Reuters Top News (@Reuters) November 9, 2016
All signs point to a very volatile trading day on Wednesday--and beyond--so brace yourself accordingly. And remember the tenets of Foolish investing:
- Buy part-ownership stakes in businesses--rather than trading in and out of stocks
- Have perspective--political figures and parties undoubtedly shape economies, but company fundamentals are far more important
- Stay the course--have a plan for your investments, and stick to it
- Remember the two traits you must have to be great: timeline and temperament
The next few days could be as volatile as any we've seen in years. Stay Foolish ... think long-term ... and whatever you do, don't panic!
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