Asian Shares Tumble as Donald Trump Gains Lead in Electoral Vote - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Asian Shares Tumble as Donald Trump Gains Lead in Electoral Votes

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Share benchmarks are tumbling across Asia after Donald Trump gained the lead in electoral votes. Markets had opened solidly higher but quickly shed those gains, reflecting investor concern over what a Trump presidency might mean for the economy and trade.
Japan's Nikkei 225 index dropped 2.4% to 16,777.85 as the U.S. dollar sank against the Japanese yen, a trend that would be unfavorable to exporters. Hong Kong's Hang Seng plunged 1.7% to 22,514.70.
South Korea's Kospi index fell 1.4% to 1,976.49 and Australia's S&P ASX/200 lost 1.2% to 5,196.70.
Earlier, investors had appeared convinced that Hillary Clinton would win the presidency. Clinton is viewed as a more stable option who might maintain current policies.
In currency trading, the U.S. dollar was trading at 102.60 yen down from a high earlier in the session of 105.46. The euro was at $1.1142, up from its previous close of $1.1020.

The U.S. market had soared a day earlier as Hillary Clinton's chances for winning the U.S. presidential election appeared to improve. Investors have been anxious over signs that the U.S. presidential race was tightening.
The Dow Jones industrial average slipped 37 points, or 0.2%, to 18,221.
The Standard & Poor's 500 index fell 6 points, or 0.3%, to 2,124. The Nasdaq composite declined 16 points, or 0.3%, to 5,150.

(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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