Historic Swings: 132 Points on SP500; 270 Nasdaq; 1325 Nikkei

By: Mike Shedlock | Wed, Nov 9, 2016
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Those who promised immediate Armageddon if Donald Trump won the election were temporarily elated until Trump gave a very gracious election win speech.

The stock markets globally had wild swings as did US treasuries, the dollar, and gold.

You need to go all the way back to the dark days of 2008 to find a stock market reversal to rival that of the last 12 hours, in which S&P 500 Index futures erased a 5 percent loss triggered by Donald Trump's surprise presidential election win. Bigger turnarounds only happened three times before, twice in the final months of 2008 and the other in October 1987, data compiled by Bloomberg show. Stocks turned higher on Wednesday as speculation the Republican will pursue business-friendly policies offset some of the broader uncertainty surrounding his ascent.


S&P 500

S&P500 1-Day Chart


Nasdaq

NASDAQ 1-Day Chart


Nikkei

NIKKEI 1-Day Chart


US Dollar Index

US Dollar Index 1-Hour Chart


10-Year Treasury Yield

10-Year US Treasury 1-Day Chart


Gold

Gold 1-Day Chart

At one point the equity futures were limit down. Now they are green. It was quite a historic reversal, as was the election.

 


 

Mike Shedlock

Author: Mike Shedlock

Mike Shedlock / Mish
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Mike Shedlock

Michael "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Visit http://www.sitkapacific.com/ to learn more about wealth management for investors seeking strong performance with low volatility.

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