On 8 November Donald Trump surprisingly wins the US presidential election. He wins 306 electoral votes and Hillary Clinton 232, but gets only 46,2% of the popular vote versus Clinton’s 48,3%. Election polls and investors expected Clinton to win. In the initial market shock reaction Dow futures fall 800 points and the S&P 500 by 5%. European stocks fall and Japan’s Nikkei stock exchange closes 5.4% lower. But within a day markets digest the result and some sectors start to focus on possible opportunities. The Dow industrials move up to their best week since 2011. Based on his election promises, infrastructure and traditional energy sectors are optimistic. So is finance, expecting deregulation. Yet his positions on climate, trade and migration leave clean energy, manufacturing and ICT sectors nervous. Amidst market uncertainty, the value of the US dollar surges with post-election expectations of reflation in the US.
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