Trump’s conciliatory speech helps soothe market concerns

Conciliatory comments from Trump in the aftermath of his victory over Clinton help global stock markets recover a large chunk of their earlier losses.

Though uncertainty remains over Trump’s trade, immigration and geopolitical policies and what his victory means for the future of globalization, investors appear somewhat calmed by his victory speech, in which he praises Clinton and urges Americans to “come together as one united people” after a divisive campaign.

“While Trump slightly soothed some concerns in his victory speech, uncertainty remains over what kind of a US he plans to lead,” says Craig Erlam, senior market analyst at OANDA.

In Europe, Germany’s DAX is down 0.9 percent at 10,384 while the FTSE 100 index of leading British shares was 0.4 percent lower at 6,818. US stocks are expected to open lower, too, though by far less than earlier predicted. Dow futures are 1.6 percent lower at 17,991 while the broader S&P 500 futures were down 1.7 percent at 2,100.

— AP