Jordan Hiscott, Chief Trader at ayondo markets
“Finally, after what’s arguably been the most divisive Presidential election in US history, we’re hours away from hearing the result. The contest has genuinely been a rollercoaster ride, not just for voters but for Wall Street.
“Many will be looking to predict market moves as we near the final count. In my opinion, unlike the EU referendum, this is far from a binary event. Trump’s isolationist policies would likely lead to a devaluation of the USD, whilst Clinton’s negative comments about Wall Street are likely to have a downward effect on equities.
“We’ve recently seen de-leveraging across the board by various brokers. This is a good thing, as a shock result is still a possibility, so this reduction in risk should make any move more proportionate. However, the exoneration of Clinton by the FBI has more recently spurred on a return to risk assets. This move has the overconfident hallmarks of the Remain camp in the lead up to the EU referendum, which concerns me greatly, given how varied the polling has been in only the past seven days.”