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Stock market futures plummet as Donald Trump's takes victory

Posted at 10:28 PM, Nov 08, 2016

Stock market futures have plummeted Tuesday night as early election returns shifted towards president-elect Donald Trump's favor.

As Trump's victory was declared, global stock markets went tumbling. USA Today reports that investors immediately began moving their money into safe havens.

As Trump’s victory -- one which drastically exceeded expectations -- was declared, the Dow Jones industrial average was officially down about 638 points -- or 3.4% in futures trading.

Meanwhile, Japan's Nikkei 225 plunged 5.4% and Hong Kong's Hang Seng index lost 3.2%. 

Reports also indicate gold stocks are rising as nervous investors are less likely to invest in the American dollar.

With Trump's promises to significantly cut back on open trade with Mexico, the peso has sunk to its lowest rate in eight years, Bloomberg reports.

The stock market’s performance has had an inverse relationship with Trump’s chances throughout the 2016 presidential campaign. After the FBI announced renewed interest in Hillary Clinton’s email server in late October, the S&P 500 fell for nine straight days — it’s longest losing streak in 35 years.

Alex Hider is a writer for the E.W. Scripps National Desk. Follow him on Twitter @alexhider.