Market turmoil eases at opening after downward spiral amid Trump win

The markets have been impacted the 2016 U.S. Election.

(Image credit: DANIEL LEAL-OLIVAS/AFP/Getty Images)

published 9 November 2016

The markets opened Wednesday morning to minimal losses, after Dow futures nosedived Tuesday night amid Donald Trump's unexpected victory over Hillary Clinton. The Dow Jones was down 25.55 points, or 0.14 percent, and the S&P 500 was down 10.84 points, or 0.51 percent, at the opening bell. The Guardian reported the rally is being led by share in "steel producers, defense firms, and pharmaceuticals firms."

Just nine hours ago, the Dow futures were down 800 points. James Athey, a fixed income fund manager, told CNBC the "increased prospect of tax cuts and generally pro-growth set of policies" from Trump, coupled with Republicans' maintained majorities in the House and the Senate, has "seen some of this initial reaction begin to reverse."

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