US stockmarkets rallied following Donald Trump's surprise victory in the 2016 US Presidential Election, with the Dow Jones surging to a near-record high as financials and biotech stocks were buoyed by the news.
Wider market reaction
As Trump emerged triumphant, the dollar had fallen 0.75% against the pound and 2.21% against the euro, but by 10.30am GMT it recovered to trade 0.3% lower against sterling and 0.5% lower against euro, at $1.2420 and $1.108, respectively.
Meanwhile, the Japanese yen is up 1.7% against the greenback to stand at ¥103.37, as a result of increased uncertainty over trade and foreign policy under his leadership.
The value of the Mexican peso crashed by over 13% to a record low of 20.7 pesos to the dollar, and was down some 17% against the yen, as Trump's victory continues to cast doubt over the future of the North American Free Trade Agreement.
In Asia, the Nikkei 225 was down 5.3% to 16,251 points and the Hong Kong Hang Seng lost 2.2% to hit 22,415. FTSE 100 futures were down 3.7%, according to Bloomberg.
A rise in perceived risk from a Trump victory also led yields on 10-year US treasuries to fall to 1.8%.
Meanwhile, immediately following Trump's victory,the price of Brent Crude down 2% to $45 a barrel, despite suggestions a Trump victory would be positive for commodities. However, by 10.30am, prices had recovered to lose just 0.3% at $45.9 a barrel.
In the days prior to the election result, polls had indicated Clinton had 46% of the public vote versus Trump's 43%, although investors had warned markets had failed to price in the likelihood of a Trump victory.
