Dollar plunge as Trump is declared president-elect

Share markets plunged Wednesday and the dollar tumbled against the yen and the euro as Donald Trump was elected US president, in a stunning upset with major implications for the world economy. 

The Mexican peso also fell to a record low as safe-haven assets soared, with gold rising more than five percent and German government bonds rallying. Fears about the impact on financial markets led Japanese and South Korean authorities to call crisis talks.

Initial confidence that market favorite Hillary Clinton would win vanished as results showed the firebrand tycoon picking up the major scalps needed to take the White House.

After he won a swathe of states, Clinton called Trump to concede, handing him the keys to the White House.

Key figures around 0800 GMT 

Tokyo – Nikkei 225: DOWN 5.4 percent at 16,251.54 (close)

Hong Kong – Hang Seng: DOWN 2.2 percent at 22,415.19 (close)

Shanghai – Composite: DOWN 0.6 percent at 3,128.37 (close)

London – FTSE 100: DOWN 1.9 percent at 6,718.85

Dollar/Mexican peso: UP at 20.1100 from 18.6152 pesos late Tuesday

Pound/dollar: UP at $1.2500 from $1.2378 Tuesday

Euro/pound: UP at 90.07 pence from 89.03 pence

Euro/dollar: UP at $1.1243 from $1.1020

Dollar/yen: DOWN at 103.00 yen from 105.14 yen

Oil – West Texas Intermediate: DOWN $1.22 at $43.76 per barrel

Oil – Brent North Sea: DOWN $1.08 to $44.96 per barrel

New York – Dow: UP 0.4 percent at 18,332.43 (close)