Global Markets Rocked by Trump Election Upset
Markets like predictability, and tonight's results have been anything but predictable.
Global markets, predicting a Clinton win for sometime now, were caught flatfooted tonight and are now in disarray.
The markets became jittery just before 9 p.m. Eastern Time on Tuesday night, as it became clearer that Florida might break for Donald Trump.
Over the next few hours as Trump's chance to clinch the presidency become more probable, investors' screens began flashing red in a scene reminiscent of the massive sell-offs that followed the United Kingdom's shock vote on June 23 to leave the European Union -- a vote known as Brexit.
Investor around the world scrambled to re-calibrate positions taken under the presumption of a Clinton victory.
"This is obviously not the outcome that markets had priced in at 4 p.m. today," Nick Colas, chief market strategist at Convergex, told ABC News by phone from New York. "The way the markets were looking going in and the way polls and offshore odds were looking there was going to be a 90% chance of a Hillary Clinton victory, and a small chance of an upset."
"Now, looking at it just a few hours later, that was all wrong -- 100% wrong," he added.