(Nov 9): Global markets were thrown into disarray as early results from the U.S. election raised the possibility that Donald Trump may prevail over Hillary Clinton in the race for the presidency, shocking traders who had focused on polls in recent days showing the opposite.

Panicked traders rushed to unwind bets they piled into over the last two days amid predictions Clinton would sweep to an easy victory. Futures on the S&P 500 plunged more than 4 percent, while Mexico’s peso -- a barometer for investors’ perceptions of the American vote -- sank by the most in eight years. Safe-haven demand pushed the yen and gold up by more than 2 percent. Yields on 10-year Treasuries slid to a two-week low.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook