Share markets plunged Wednesday and the dollar tumbled against the yen and the euro as Donald Trump was elected US president, in a stunning upset with major implications for the world economy.
The Mexican peso also fell to a record low as safe-haven assets soared, with gold rising more than five percent and German government bonds rallying. Fears about the impact on financial markets led Japanese and South Korean authorities to call crisis talks.
Initial confidence that market favorite Hillary Clinton would win vanished as result as results showed the firebrand tycoon picking up the major scalps needed to take the White House.
After he won a swathe of states, Clinton called Trump to concede, handing him the key to the White House.
Markets have been plunged into turmoil as Clinton was considered by many investors to be a safer bet than Trump, who is seen as a loose cannon with policies many fear could wreck the world's number-one economy.
"It's been a bloodbath in the markets over the last few hours with the Mexican peso suffering particularly," said Craig Erlam, senior market analyst at OANDA.
Tokyo had collapsed 5.4 percent by the end of trade, while Hong fell 2.2 percent and Shanghai sank 0-6 percent.
Sydney gave up almost two percent, Seoul shed 2.3 percent and Singapore dived 1.8 percent. Wellington plunged 3.3 percent while Taipei was 3.0 percent off.
Manila skidded 2.5 percent and Jakarta two percent.
The Sensex on the Bombay Stock Exchange was three percent off, having initially plummeted more than six percent on Tump's performance and news that high-denomination notes were being pulled from circulation as part of a crackdown on tax evasion.
Futures on the S&P 500 and Nasdaq on wall Street dived more than five percent at one point while those on the Dow were off four percent.
In early European trade London fell 1.9 percent, Paris lost 2.8 percent and Frankfurt dived 2.9 percent.
The Mexican peso also fell to a record low as safe-haven assets soared, with gold rising more than five percent and German government bonds rallying. Fears about the impact on financial markets led Japanese and South Korean authorities to call crisis talks.
Initial confidence that market favorite Hillary Clinton would win vanished as result as results showed the firebrand tycoon picking up the major scalps needed to take the White House.
After he won a swathe of states, Clinton called Trump to concede, handing him the key to the White House.
Markets have been plunged into turmoil as Clinton was considered by many investors to be a safer bet than Trump, who is seen as a loose cannon with policies many fear could wreck the world's number-one economy.
"It's been a bloodbath in the markets over the last few hours with the Mexican peso suffering particularly," said Craig Erlam, senior market analyst at OANDA.
Tokyo had collapsed 5.4 percent by the end of trade, while Hong fell 2.2 percent and Shanghai sank 0-6 percent.
Sydney gave up almost two percent, Seoul shed 2.3 percent and Singapore dived 1.8 percent. Wellington plunged 3.3 percent while Taipei was 3.0 percent off.
Manila skidded 2.5 percent and Jakarta two percent.
The Sensex on the Bombay Stock Exchange was three percent off, having initially plummeted more than six percent on Tump's performance and news that high-denomination notes were being pulled from circulation as part of a crackdown on tax evasion.
Futures on the S&P 500 and Nasdaq on wall Street dived more than five percent at one point while those on the Dow were off four percent.
In early European trade London fell 1.9 percent, Paris lost 2.8 percent and Frankfurt dived 2.9 percent.
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