From the Editor's Desk

U.S. Stocks and Dollar Boosted By Trump's Showing - Foreign Policy

Global markets responded to the apparent victory of former President Donald Trump early Wednesday with a mix of fear and anticipation, as the presumptive winner’s proposed economic policies promise smooth sailing for U.S. equities and a rough ride for emerging economies, as well as an intensified trade war with China.

The biggest U.S. index was up in pre-market trading, a sign that Trump’s plans to slash regulation and cut taxes are seen as good for business in the short run at least, and the dollar gained strength against most major currencies. Asian stock markets reacted in disparate ways, with Japan’s blue-chip Nikkei index up more than 2 percent, mirrored to a lesser extent by India’s main board, while Shanghai’s composite index slipped a bit, much as the renminbi did against the dollar, a slide mirrored by most smaller economies that stand to bear the brunt of a renewed push for U.S. tariffs and further hurdles to global trade. Iran’s currency, meanwhile, nosedived at the prospect of Trump 2.0.

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