BLOOMBERG.COM
Oil erased losses as global markets adjusted to Republican Donald Trump’s election as the 45th U.S. president. Futures were little changed in New York, reversing an earlier decline of 4.3 percent. Turbulence in financial markets calmed and a knee-jerk selloff of risky assets abated as Trump, 70, promised to try to unite America’s divided political factions after his victory over Hillary Clinton. The result nonetheless rattled markets that had banked on a continuation of economic and trade policies under a Democrat president. Most polls had shown Clinton ahead of Trump going into the vote and websites that took bets on the victor had put her odds of winning at 80 percent or more.
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Oil erased losses as global markets adjusted to Republican Donald Trump’s election as the 45th U.S. president. Futures were little changed in New York, reversing an earlier decline of 4.3 percent. Turbulence in financial markets calmed and a knee-jerk selloff of risky assets abated as Trump, 70, promised to try to unite America’s divided political factions after his victory over Hillary Clinton. The result nonetheless rattled markets that had banked on a continuation of economic and trade policies under a Democrat president. Most polls had shown Clinton ahead of Trump going into the vote and websites that took bets on the victor had put her odds of winning at 80 percent or more.
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