Donald Trump is shocking the whole world right now. He could very plausibly win the presidency, and financial markets are freaking out.
The Dow Jones futures market has plunged more than 790 points in after-hours trading — a whiplash move eerily similar to what happened back in June after Brexit unexpectedly won the referendum in the United Kingdom:
Brexit veterans will recognize the shape of tonight's Dow futures financial chart pic.twitter.com/wz0RUJtEbr— Anthony Zurcher (@awzurcher) November 9, 2016
This has been the pattern all election season, as my colleague Timothy B. Lee has noted. Whenever Trump’s odds of victory improve, the stock market dips.
Bloomberg notes that a whole host of other financial indicators are currently plummeting as well:
Dow futures have plunged.— Bloomberg (@business) November 9, 2016
More updates here https://t.co/qOGMwUpUjh #ElectionNight pic.twitter.com/dXmThOhxOm
Betting markets are also shifting sharply toward Trump right now.
It’s pretty clear that many investors were expecting a Clinton victory — and that hasn’t panned out after Trump performed surprisingly well in Ohio, Florida, North Carolina, Wisconsin, and Michigan. Both the New York Times’ Upshot and FiveThirtyEight’s election models currently suggest that Trump is favored.
- How Hillary Clinton could win 270 electoral votes.
- How Donald Trump could win 270 electoral votes.
- Here are six plausible ways this election could go wildly off the rails.