Feldman: Stock Futures Dive Amid Fears Of Trump Presidency

DETROIT (WWJ) - Stock futures took a nose dive on Election Night amid fears Donald Trump would win the U.S. presidential election.

Shortly before 10:30 p.m., the Dow Jones futures (which are basically contracts to buy or sell stocks when the market opens) were down as much as 600 points, according to WWJ Business Editor Murray Feldman, who says this is not a good evening for investors.

"The world is watching the election returns with their pocketbooks," Feldman reported, adding that close projections and results from Virginia, Ohio, Florida and Pennsylvania were what turned trading around in the last 45 minutes, worldwide.

Feldman said markets in Asia were selling off; some down 2 percent.

What's the cause?

"Internationally there's fear that a Trump presidency will tighten trade rules here in this county, fear of the unknown. What would a Trump presidency mean for energy, for health care? Could the health care system that we have be dismantled?" he said.

Feldman said it at this point it appears that Wall Street is headed for a huge selloff at the opening bell.

Meantime, the peso — which had been rising in recent days — is dropping as well.

"Of course, a Trump presidency is seen to be bad for the people of Mexico and Mexican businesses," Feldman said.

He said there is a silver lining. With some investors putting the money from sold stocks into U.S. treasuries which could bring down interest rates for some.

[Latest on the stock market, here].

WWJ Newsradio 950 is live with continuing election coverage. Check the latest election results in Michigan at this link.