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Trump edges closer to White House win, rattles world markets

2016-11-09 14:05

By (Agencies)

Trump edges closer to White House win, rattles world markets

A Trump supporter celebrates as election returns come in at Republican US presidential nominee Donald Trump's election night rally in Manhattan, New York, US, November 8, 2016. [Photo/Agencies]

Nov 8 - Republican Donald Trump edged closer to winning the White House with a series of shocking wins in battleground states such as Florida and Ohio on Tuesday, rattling world markets that had counted on Democrat Hillary Clinton defeating the political outsider.

With investors worried a Trump victory could cause economic and global uncertainty, investors fled risky assets such as stocks. In overnight trading, S&P 500 index futures fell 5 percent to hit their so-called limit down levels, indicating they would not be permitted to trade any lower until day-side trading resumed on Wednesday morning.

Mexico's peso plunged to its lowest-ever levels as Trump's chances of winning the presidency increased. Concerns of a Trump victory have weighed heavily on the peso for months because of his threats to rip up a free trade agreement with Mexico and tax money sent home by migrants to pay to build a wall on the southern US border.

Trump surged to wins in Florida, Ohio, Iowa and North Carolina, and Fox News projected a win for him in Wisconsin. With voting completed in 49 of the 50 US states, he also narrowly led in Michigan and New Hampshire, edging him closer to 270 Electoral College votes needed to win the state-by-state fight for the White House.

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