Markets Slide Further On Prospect Of Trump Presidency

LONDON, Nov 2, (APP - UrduPoint / Pakistan Point News - 02nd Nov, 2016 ) - Global stock markets spiralled downwards Wednesday with Europe following Asia lower as investors fretted over growing fears of a Donald Trump presidency.

Asian equities sank and the Mexican peso fell after an poll Tuesday showed Trump overtaking market favourite Hillary Clinton in the race for the White House. "This is what happens when politics trumps economics," City Index analyst Kathleen Brooks told AFP.

"We saw volatility rise yesterday, which was bad news for stocks.

Trump's comeback is a lightening rod for volatility. "Along with rising bond yields we could have the perfect storm for equities.

If we do not see Clinton win this election, get your hard hats ready." European stocks followed suit with another raft of losses on Wednesday, as investors became more risk-averse before the November 8 vote.

London shed 0.57 percent in afternoon trade, with Paris losing 0.79 percent and Frankfurt dropping 0.92 percent. Wall Street also edged lower at the open, with the Dow down 0.3 percent.