Cent Slide: Cent and Wall Street

cent slide: Shares tumbled nearly four per cent at one stage, as the US S&P 500 futures market slumped 4.5 per cent, according to Nine News Australia. Some analysts have predicted a 10 per cent slide on Wall Street should a Trump win be confirmed. Billions of dollars were wiped off the Australian share market as predictions of a win by Democrat Hillary Clinton fell by the wayside, finishing around two per cent lower on Wednesday. The count is ongoing, but it would appear that Donald Trump is mostly likely to claim the presidency at this stage, Foreign Minister Julie Bishop told Sky News.. The unexpected election turnaround rolled out during Australia trading session and came as new figures showed confidence among local consumers have been undermined in the past month by the political shenanigans in the US. The Westpac-Melbourne Institute consumer sentiment index for November fell 1.1 per cent. This and disappointing monthly jobs numbers and an unchanged cash rate after the Reserve Bank board meeting - there had been earlier speculation of a rate cut at the November 1 board meeting - offset the surprise surge in commodity prices in recent months and the potential lift in the national income. Westpac chief economist Bill Evans said events in the past month have included weakness in the share markets as investors dealt with the uncertainties around the US election. (news.financializer.com). As reported in the news.