Reacting to the US presidential election, markets around the world as well as Wall Street have plunged. In fact, Fox news reported “around midnight in New York, Dow futures plunged more than 730 points while S&P 500 and Nasdaq 100 futures fell in sympathy.”
Peter Kenney, senior market strategist at Global Markets Advisory Group said “the election’s outcome had traders around the world scrambling for cover.”
“His potential presidency brings with it many variable not yet priced into the economic narrative from trade, to trade pacts, to multi-national economic agreements, and mutual defense agreements,” he explained. To buffer potential losses, traders rushed into more stable markets like gold and government debt.
Analyst and social activist Mike Smith said he had been warning friends and family, anyone that would listen, that this was coming. “Professor Allan Lichtman of American University has correctly predicted the winner of the presidency in every presidential election since 1984, for the past 30 years.
When I did the research and read about his 13-keys to predicting the presidency, my eyes were opened to the real possibility of a Trump presidency. I’m not surprised in the least.”
But the reality, Smith asserts is that democracy as we knew it is about to change “radically” he says. When asked if global panic in the markets will follow?
“People need to get prepared for any and every situation,” he states, adding: “welcome to the day after,” he offers up in a ruinous tone.