European Stock Markets Fall Following Trump Victory

Stock markets across Europe opened lower following Donald Trump’s shock U.S. election win, but steadied following his victory speech, and later recovered their post-election losses.

At the start of the day’s trading, European markets recorded their biggest falls since the U.K.’s vote to leave the European Union. London’s FTSE 100 index slipped 2%, Paris was down 2.9%, and Germany’s Dax fell 2%. There were similar drops in Madrid and Milan. This echoed the mood in Asia, where markets also had sank, with Japan’s Nikkei 5% lower and Hong Kong’s Hang Seng down by 2%.

After Trump’s speech, which was considered more “presidential” than expected, markets rallied. London is now showing a 0.39% gain on the previous day, for example. However, markets remain volatile as investors get to grips with the impact on global trade of Trump’s surprising win.

“The reactions are not as bad as I would’ve expected but it is still early days,” said Martin van Vliet, an interest-rate strategist at ING Groep NV in Amsterdam told Bloomberg. “It’s certainly not as dreadful as many people had expected a few hours ago. Everyone is now wondering about the longer-term ramifications.”

After an initial plunge, European media stocks were trading only slightly down on the previous day’s prices at the mid-morning mark. European pay-TV network Sky was 0.62% down, U.K. free-TV company ITV was 0.24% off, and German broadcaster ProSiebenSat.1 was registering a 1.75% fall.

Popular on Variety

More Biz

  • Spotify logo is presented on a

    Spotify Triples Free-Trial Period on Premium Service

    Spotify today extended the free-trial period for its Premium service from one month to three, tripling the amount of time listeners can take full advantage of the streaming giant’s offerings without paying for them. According to the announcement, the offer is “always-on/not limited time,” and will roll out across Spotify Premium plans globally: Individual and [...]

  • The Ringer Promotes Sean Fennessey, Mallory

    The Ringer Promotes Sean Fennessey, Mallory Rubin to Top Editorial Roles

    Mallory Rubin and Sean Fennessey have been promoted to top editorial posts at The Ringer, the pop culture and sports website and podcast network. Fennessey has been named chief content officer and Rubin has been named editor in chief. Both editors have been with The Ringer since it launched in 2016. Fennessey previously served as [...]

  • RihannaFenty Beauty By Rihanna Launch, Madrid,

    Rihanna's Diamond Ball Will Honor Activist Shaun King, Barbados Prime Minister Mia Mottley

    Barbados Prime Minister Mia Mottley and civil rights activist Shaun King will receive this year’s Diamond Ball Award at Rihanna’s fifth annual Diamond Ball, which will also feature performances from Pharrell and DJ Khaled. “I can’t imagine a better night than this year’s Clara Lionel Foundation event with Seth Meyers, Pharrell and DJ Khaled,” said [...]

  • Rules Don't Apply

    Warren Beatty and Arnon Milchan Settle Suit Over 'Rules Don't Apply' Flop

    Arnon Milchan and Warren Beatty have settled their two-year legal battle over the disastrous release of “Rules Don’t Apply,” Beatty’s period drama about Howard Hughes. Milchan’s attorneys have filed a notice with the court dismissing his suit against Beatty. Terms of the settlement were not disclosed. Milchan’s company, New Regency, sued Beatty and other investors [...]

More From Our Brands

Access exclusive content