Donald Trump's surprise victory over Hillary Clinton in the race to become the 45th president of the US has provoked from the financial services sector a mixture of optimism, pessimism and, above all, uncertainty.
AJ Bell investment director Russ Mould described market movements that saw rises in the value of gold and the yen as "textbook reactions" to unexpected events. "In the very short term, stockmarkets look set to fall, given the uncertainty posed by an outsider candidate unexpectedly becoming America's Commander-in Chief," he added. "Following on from the UK's referendum vote in June, this reinforces the presence of political risk that has been absent from developed markets for most of the last two decades." Mould continued: "A drop in stocks and gains in 'safe-haven' assets such as the ...
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