US NASDAQ Futures Hit Limit Down as Trump Likely U.S. President

Global financial markets are in havoc, as the U.S. election appears to be sealed for Donald Trump. The Five Thirty Eight presidential projection model is showing that the likelihood of the Republican candidate to become the 45th President of the United States. The news comes as a surprise to the equity markets as a win for Trump was seen as a remote possibility.

The presidential race has been one of the tightest since the infamous electoral college and popular vote split in 2000 between President George W. Bush and Vice President Al Gore. Unexpectedly, Hilary Clinton is very likely to have lost the popular vote as some key Democratic strongholds in past elections have fallen to Donald Trump.

While the financial markets have been very volatile and from the looks of it we are likely to register the best day in terms of trading volumes, overnight trading has been relatively smooth for now. No major outages amongst brokerages have been reported. While some systems performed slower than normal, this is to be expected in such volatile market conditions.

Some brokers have trouble processing orders as the trading screens have frozen, and Slippage Slippage In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price Read this Term has been apparent, but the moves have been quite rampant:

Dear @realDonaldTrump
For the White House
"The Trump Effect"
Most active financial futures prices tonight pic.twitter.com/MfLyBu3jZV

— Eric Scott Hunsader (@nanexllc) November 9, 2016

After Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term earlier this year, pollsters have been proven wrong again. With the Huffington Post and The New York Times being among the most optimistic predictors for a Hilary Clinton win. Nate Silver's FiveThirtyEight.com and RealClearPolitics have been the stand outs that have had their doubts about the final outcome.

Yesterday's @nytimes. Time for a rethink on your methods, chaps. #ElectionNight pic.twitter.com/OdIMyKM86o

— Ian Shepherdson (@IanShepherdson) November 9, 2016

Looking at the foreign exchange market, the biggest underperformed has been the Mexican Peso, with other emerging market currencies also taking a tumble.

#USDMXN up 13% since 22:00hrs#peso pic.twitter.com/gWPrDCFeKh

— IGSquawk (@IGSquawk) November 9, 2016

As the European markets are nearing their open, some doubts remain about the prospects for financial markets going forward. While for now we are seeing a nosedive in a similar fashion to the Brexit vote in June, we might as well see a full recovery in a couple of weeks, just as it happened after Brexit.

Market reaction. #ElectionNight pic.twitter.com/Bjek9n2lG7

— Pedro da Costa (@pdacosta) November 9, 2016

#Japan's Nikkei get trumped. Dropped 5.4% to 16,251.54 at market close. pic.twitter.com/svBQpZzBTO

— Holger Zschaepitz (@Schuldensuehner) November 9, 2016