Global equity markets dipped on Tuesday as nervous investors awaited indications whether the Federal Reserve will be able to raise interest rates much further amid turbulent markets and a weakening outlook for the global economy.

Energy stocks weighed on the US&nbsp;market as oil price declines deepened.

Steep drops in equity markets over the last two months have sapped investor confidence, spurring fund managers to predict global growth to weaken over the next 12 months, the worst outlook in a decade, Bank of America Merrill Lynch's December investor survey showed.

MSCI's world stock index fell 0.3 per cent. The index is down 10 per cent this year and is set for its worst year in a decade.

US&nbsp;stocks eked out modest gains amid volatile trading as investors weighed strong tech earnings against concerns about global growth.

The Dow Jones Industrial Average&nbsp;rose 82.66 points, or 0.35 per cent, to 23,675.64, the S&amp;P 500 gained 0.22 points, or 0.01 per cent, to 2,546.16 and the Nasdaq Composite added 30.18 points, or 0.45 per cent, to 6,783.91.

The Dow had been up by more than 250 points in midday trading.

The benchmark S&amp;P 500&nbsp;index began the trading session almost 8 per cent lower for December.

"We're facing the biggest December fall in US&nbsp;stocks since 1931 and this is striking and worrying at the same time," said Chris Bailey, European strategist at international financial services firm Raymond James. "We are at a regime shift moment, and the debate is how big that regime shift will be."

A speech by Chinese President Xi Jinping, which investors had hoped could lift morale, had little impact after he offered no specific support measures for the economy. Chinese shares fell over 1 per cent. Japan's Nikkei lost 1.8 per cent.

Adding to the gloomy mood, the German Ifo economic institute's business climate index fell for the fourth month in a row to its lowest level in more than two years and Japan's government revised down its economic growth forecasts.

On Monday, US President Donald Trump and his top trade adviser stepped up their criticism of the Fed's monetary tightening, raising investor anxiety.

Benchmark 10-year notes last rose 9/32 in price to yield 2.8264 per cent, from 2.857 per cent late on Monday.

US&nbsp;crude futures settled down 7.3 per cent while Brent settled down 5.6 per cent, weakening for a third consecutive session on reports of swelling inventories and forecasts of record US&nbsp;and Russian output.

The dollar extended its declines against major currencies ahead of the Fed meeting. The dollar index &lt;.DXY&gt;, tracking it against six major peers, fell 0.03 per cent, with the euro&nbsp;up 0.14 per cent to $1.1362.

Global equity markets dipped on Tuesday as nervous investors awaited indications whether the Federal Reserve will be able to raise interest rates much further amid turbulent markets and a weakening outlook for the global economy.

Global equity markets dipped on Tuesday as nervous investors awaited indications whether the Federal Reserve will be able to raise interest rates much further amid turbulent markets and a weakening outlook for the global economy. Energy stocks weighed on the US market as oil price declines deepened. Steep drops in equity markets over the last two months have sapped investor confidence, spurring fund managers to predict global growth to weaken over the next 12 months, the worst outlook in a decade, Bank of America Merrill Lynch's December investor survey showed. MSCI's world stock index fell 0.3 per cent. The index is down 10 per cent this year and is set for its worst year in a decade. US stocks eked out modest gains amid volatile trading as investors weighed strong tech earnings against concerns about global growth. The Dow Jones Industrial Average rose 82.66 points, or 0.35 per cent, to 23,675.64, the S&P 500 gained 0.22 points, or 0.01 per cent, to 2,546.16 and the Nasdaq Composite added 30.18 points, or 0.45 per cent, to 6,783.91. The Dow had been up by more than 250 points in midday trading. The benchmark S&P 500 index began the trading session almost 8 per cent lower for December. "We're facing the biggest December fall in US stocks since 1931 and this is striking and worrying at the same time," said Chris Bailey, European strategist at international financial services firm Raymond James. "We are at a regime shift moment, and the debate is how big that regime shift will be." A speech by Chinese President Xi Jinping, which investors had hoped could lift morale, had little impact after he offered no specific support measures for the economy. Chinese shares fell over 1 per cent. Japan's Nikkei lost 1.8 per cent. Adding to the gloomy mood, the German Ifo economic institute's business climate index fell for the fourth month in a row to its lowest level in more than two years and Japan's government revised down its economic growth forecasts. On Monday, US President Donald Trump and his top trade adviser stepped up their criticism of the Fed's monetary tightening, raising investor anxiety. Benchmark 10-year notes last rose 9/32 in price to yield 2.8264 per cent, from 2.857 per cent late on Monday. US crude futures settled down 7.3 per cent while Brent settled down 5.6 per cent, weakening for a third consecutive session on reports of swelling inventories and forecasts of record US and Russian output. The dollar extended its declines against major currencies ahead of the Fed meeting. The dollar index <.DXY>, tracking it against six major peers, fell 0.03 per cent, with the euro up 0.14 per cent to $1.1362.

Global Markets: Stocks dip ahead of US interest rates, oil prices

US President Donald Trump lambasted the <a href="http://www.wionews.com/business-economy/wall-street-rises-on-trade-hopes-sp-nasdaq-post-best-weeks-in-seven-years-180612">Federal Reserve again, calling</a> on the central bank not to raise interest rates a day before policymakers are due to meet. Markets widely expect the Fed to ignore the political pressure and announce its fourth rate hike of 2018.

With a volatile year drawing to a close, major US stock indices touched new lows while one fell into a "bear market" - a potentially ominous moment when prices fall 20 per cent from a recent peak.

Prominent US investor Jeffrey Gundlach touched off more bloodletting around midday after telling CNBC US equities probably were already in bear market territory.

The Dow Jones Industrial Average and S&amp;P 500 both fell 2.1 per cent while the tech-heavy Nasdaq fell 2.3 per cent, with the latter two hitting new lows for the year.

The Nasdaq is now 16.7 per cent below its August peak, inching toward a bear market as well.

Quincy Krosby of Prudential Financial told AFP the S&amp;P 500 was approaching key technical levels that could trigger automated selling.

"Gundlach is considered an excellent manager," Krosby said. "He said that this market looked like a bear market and perhaps it would go lower."

Economic data released early Monday added to the growth concerns: a survey of manufacturing activity in the New York region showed an unexpected plunge while an index of sentiment among homebuilders also fell sharply.

And on Friday, a batch of dispiriting economic data from China added to Wall Street's jitters.

"This is the extension of everything that has bothered the markets for the last several weeks. The US economic news added to the selloff," said Karl Haeling of LBBW told AFP.

Earlier on Monday, major European stock markets also fell. London, already beset with Brexit concerns, took an additional knock after British online fashion retailer ASOS issued a profit warning.

London's blue-chip FTSE 100 fell 1.1 per cent, as did the CAC 40 in Paris, while the DAX 30 in Frankfurt shed 0.9 per cent.&nbsp;

The Bank of England will follow the US Fed on Thursday with its latest monetary policy decision.

ASOS chief executive Nick Beighton said November had been the "most difficult month relative to expectations for five years." He blamed Brexit, weak consumer confidence and deep price discounting for the shock warning.

The news sparked alarm among retailers already struggling with sales in their physical stores.

As a result, shares in British clothing group Next sank 4.9 per cent while bellwether Marks &amp; Spencer fell 4.6 per cent.

"Looking more broadly this is also a potential warning sign for online retailers who have hitherto held up relatively well compared to traditional High Street chains in what has no doubt been a challenging year for the sector," said David Cheetham, chief market analyst at XTB online trading firm.

Asian stock markets meanwhile mostly closed higher Monday as traders looked ahead to the Fed and a Chinese economic policy-setting conference this week.

US President Donald Trump lambasted the Federal Reserve again, calling on the central bank not to raise interest rates a day before policymakers are due to meet.

US President Donald Trump lambasted the Federal Reserve again, calling on the central bank not to raise interest rates a day before policymakers are due to meet. Markets widely expect the Fed to ignore the political pressure and announce its fourth rate hike of 2018. With a volatile year drawing to a close, major US stock indices touched new lows while one fell into a "bear market" - a potentially ominous moment when prices fall 20 per cent from a recent peak. Prominent US investor Jeffrey Gundlach touched off more bloodletting around midday after telling CNBC US equities probably were already in bear market territory. The Dow Jones Industrial Average and S&P 500 both fell 2.1 per cent while the tech-heavy Nasdaq fell 2.3 per cent, with the latter two hitting new lows for the year. The Nasdaq is now 16.7 per cent below its August peak, inching toward a bear market as well. Quincy Krosby of Prudential Financial told AFP the S&P 500 was approaching key technical levels that could trigger automated selling. "Gundlach is considered an excellent manager," Krosby said. "He said that this market looked like a bear market and perhaps it would go lower." Economic data released early Monday added to the growth concerns: a survey of manufacturing activity in the New York region showed an unexpected plunge while an index of sentiment among homebuilders also fell sharply. And on Friday, a batch of dispiriting economic data from China added to Wall Street's jitters. "This is the extension of everything that has bothered the markets for the last several weeks. The US economic news added to the selloff," said Karl Haeling of LBBW told AFP. Earlier on Monday, major European stock markets also fell. London, already beset with Brexit concerns, took an additional knock after British online fashion retailer ASOS issued a profit warning. London's blue-chip FTSE 100 fell 1.1 per cent, as did the CAC 40 in Paris, while the DAX 30 in Frankfurt shed 0.9 per cent. The Bank of England will follow the US Fed on Thursday with its latest monetary policy decision. ASOS chief executive Nick Beighton said November had been the "most difficult month relative to expectations for five years." He blamed Brexit, weak consumer confidence and deep price discounting for the shock warning. The news sparked alarm among retailers already struggling with sales in their physical stores. As a result, shares in British clothing group Next sank 4.9 per cent while bellwether Marks & Spencer fell 4.6 per cent. "Looking more broadly this is also a potential warning sign for online retailers who have hitherto held up relatively well compared to traditional High Street chains in what has no doubt been a challenging year for the sector," said David Cheetham, chief market analyst at XTB online trading firm. Asian stock markets meanwhile mostly closed higher Monday as traders looked ahead to the Fed and a Chinese economic policy-setting conference this week.

Wall Street stocks crash; Dow, S&P fall over 2 per cent

In the biggest fall in its history, <a href="http://www.wionews.com/world/asian-markets-plunge-as-wall-street-rout-spreads-31927">the &nbsp;Dow Jones Industrial Average</a> fell nearly 1,600 points at one point as Wall Street experienced a bloodbath on Monday.

The Dow&#39;s gains for 2018 were erased in a matter of hours as 4.6 per cent was wiped off the value of America&#39;s 30 largest companies as it closed at 24,345.75 ending down 1,175.21 points down.

The Dow fell over fears of Treasury bond yields and the likelihood of &nbsp;Federal Reserve interest rate hikes this year as the US economy strengthens.

The benchmark S&amp;P 500 index also saw selling pressure as all sectors, were hit. It was down 5.0 per cent which was the biggest daily percentage decline, followed by healthcare, down 4.6 per cent.

The S&amp;P 500 lost 113.19 points, or 4.10 per cent, to end at 2,648.94 on Monday.&nbsp;

&quot;It looks to me like a typical type of scenario when you see a single stock flash crash where you&#39;ll see bids just disappear, stop orders get kicked,&quot; said Joe Saluzzi, co-manager of trading at Themis Trading told Reuters.

The Nasdaq Composite also dropped 273.42 points, or 3.78 per cent to 6,967.53.

The Dow fell over fears of Treasury bond yields and the likelihood of Federal Reserve interest rate hikes this year as the US economy strengthens.

In the biggest fall in its history, the Dow Jones Industrial Average fell nearly 1,600 points at one point as Wall Street experienced a bloodbath on Monday. The Dow's gains for 2018 were erased in a matter of hours as 4.6 per cent was wiped off the value of America's 30 largest companies as it closed at 24,345.75 ending down 1,175.21 points down. The Dow fell over fears of Treasury bond yields and the likelihood of Federal Reserve interest rate hikes this year as the US economy strengthens. The benchmark S&P 500 index also saw selling pressure as all sectors, were hit. It was down 5.0 per cent which was the biggest daily percentage decline, followed by healthcare, down 4.6 per cent. The S&P 500 lost 113.19 points, or 4.10 per cent, to end at 2,648.94 on Monday. "It looks to me like a typical type of scenario when you see a single stock flash crash where you'll see bids just disappear, stop orders get kicked," said Joe Saluzzi, co-manager of trading at Themis Trading told Reuters. The Nasdaq Composite also dropped 273.42 points, or 3.78 per cent to 6,967.53.

Wall Street crash: Dow Jones plunges to historic low, S&P 500 & Nasdaq hit

With the Dow Jones industrial index crossing the 25,000 mark for the first time, President Donald Trump has said &#39;Make America Great Again&#39; was happening at a faster pace than anyone thought possible.

On Thursday, the Dow Jones industrial average closed over 25,000 for the first time and covered the fastest 1,000-point move in its history, following the release of stronger-than- expected jobs data.

The other two indexes also made substantial progress. The S&amp;P 500 advanced 10 points to 2,723 and Nasdaq Composite was up 12 points at 7,077.

&quot;When the dreams of the American people are unleashed, there is nothing - absolutely nothing - we can&#39;t achieve. We are going to make America great again, and it&#39;s happening a lot faster than anyone thought possible,&quot; he said in a video message played during the daily White House news conference.

Trump said that the historic tax cut he signed into law two weeks ago, before Christmas, is already delivering major economic gains.

&quot;Hundreds of thousands of Americans are seeing larger paycheques, bigger bonuses, and higher pension contribution, and it&#39;s all because of the tax cuts and the tax reform,&quot; he said.

Workers at AT&amp;T, Bank of America, Comcast, Southwest Airlines, American Airlines, and many other companies were receiving bonuses of US $1,000 or more.

In his message, the US President said that Aflac and others are investing more in employees&#39; 401(k)s. CVS announced it will hire 3,000 new workers. Boeing, another great company, is investing hundreds of millions of dollars in employee training and infrastructure.

Aflac provides supplemental insurance for individuals and groups to help pay benefits that major medical insurance does not cover.

A 401(k) is a retirement savings plan sponsored by an employer which allows workers save and invest a piece of their paycheque before taxes are taken out. Taxes are not paid until the money is withdrawn from the account.

&quot;More than 60 companies have announced they are raising wages, including many that have voluntarily raised their minimum wage to USD 15 per hour -- and I mean they did that voluntarily, which many politicians said could only be achieved by government mandate,&quot; he said.

Trump also said that investing in American worker is the most important investment a business will ever make.

&quot;I want to thank all of these companies for putting their tax savings to the best possible use by creating more jobs and higher wages for the American family. These great results are just the beginning,&quot; he said.

White House Press Secretary Sarah Sanders told reporters that the Dow Jones Industrial Average broke through 25,000 for the first time ever and it was the result of the President&#39;s economic agenda of lower taxes, less regulation and more opportunity for all which is paying off, and American families and workers are the big winners.

According to Fox Business, Dow Jones Industrial Average has crossed six 1,000-point milestones since Trump&#39;s election on November 8, 2016.

USA Today said rising stock prices have been powered by a global economic recovery and optimism that the Republican tax-cut bill will provide a fresh boost for the US growth and help American companies make more money.

&quot;We should not be surprised that markets continue to move higher because fundamentals continue to be positive and investor optimism is actually improving rather than investors becoming more cautious,&quot; Kate Warne, an investment strategist at retail brokerage Edward Jon was quoted as saying by The Wall Street Journal.

A confident Trump also said that he has now set a new target of 30,000 mark.

&quot;We broke a very, very big barrier - 25,000. And there were those who&#39;d say we wouldn&#39;t break 25,000 by the end of the eighth year, and we are in the eleventh month. We broke 25,000 just as we came in now,&quot; Trump told reporters at the top of his meeting with Republican Senators on immigration.

Trump said that the historic tax cut he signed into law two weeks ago, before Christmas, is already delivering major economic gains.

With the Dow Jones industrial index crossing the 25,000 mark for the first time, President Donald Trump has said 'Make America Great Again' was happening at a faster pace than anyone thought possible. On Thursday, the Dow Jones industrial average closed over 25,000 for the first time and covered the fastest 1,000-point move in its history, following the release of stronger-than- expected jobs data. The other two indexes also made substantial progress. The S&P 500 advanced 10 points to 2,723 and Nasdaq Composite was up 12 points at 7,077. "When the dreams of the American people are unleashed, there is nothing - absolutely nothing - we can't achieve. We are going to make America great again, and it's happening a lot faster than anyone thought possible," he said in a video message played during the daily White House news conference. Trump said that the historic tax cut he signed into law two weeks ago, before Christmas, is already delivering major economic gains. "Hundreds of thousands of Americans are seeing larger paycheques, bigger bonuses, and higher pension contribution, and it's all because of the tax cuts and the tax reform," he said. Workers at AT&T, Bank of America, Comcast, Southwest Airlines, American Airlines, and many other companies were receiving bonuses of US $1,000 or more. In his message, the US President said that Aflac and others are investing more in employees' 401(k)s. CVS announced it will hire 3,000 new workers. Boeing, another great company, is investing hundreds of millions of dollars in employee training and infrastructure. Aflac provides supplemental insurance for individuals and groups to help pay benefits that major medical insurance does not cover. A 401(k) is a retirement savings plan sponsored by an employer which allows workers save and invest a piece of their paycheque before taxes are taken out. Taxes are not paid until the money is withdrawn from the account. "More than 60 companies have announced they are raising wages, including many that have voluntarily raised their minimum wage to USD 15 per hour -- and I mean they did that voluntarily, which many politicians said could only be achieved by government mandate," he said. Trump also said that investing in American worker is the most important investment a business will ever make. "I want to thank all of these companies for putting their tax savings to the best possible use by creating more jobs and higher wages for the American family. These great results are just the beginning," he said. White House Press Secretary Sarah Sanders told reporters that the Dow Jones Industrial Average broke through 25,000 for the first time ever and it was the result of the President's economic agenda of lower taxes, less regulation and more opportunity for all which is paying off, and American families and workers are the big winners. According to Fox Business, Dow Jones Industrial Average has crossed six 1,000-point milestones since Trump's election on November 8, 2016. USA Today said rising stock prices have been powered by a global economic recovery and optimism that the Republican tax-cut bill will provide a fresh boost for the US growth and help American companies make more money. "We should not be surprised that markets continue to move higher because fundamentals continue to be positive and investor optimism is actually improving rather than investors becoming more cautious," Kate Warne, an investment strategist at retail brokerage Edward Jon was quoted as saying by The Wall Street Journal. A confident Trump also said that he has now set a new target of 30,000 mark. "We broke a very, very big barrier - 25,000. And there were those who'd say we wouldn't break 25,000 by the end of the eighth year, and we are in the eleventh month. We broke 25,000 just as we came in now," Trump told reporters at the top of his meeting with Republican Senators on immigration.

Dow crossing 25,000 mark sign of 'Make America Great Again': Donald Trump

Stock markets mostly rose Tuesday following the previous session&#39;s record runs triggered by the first-round result of France&#39;s presidential election.

Gains were strongest in the US, where the Nasdaq surged above 6,000 for the first time and the blue-chip Dow index jumped more than one per cent following several strong earnings reports from big companies.

The increases were more modest among European equity indices, while the euro reached its highest level so far of 2017 against the dollar. &nbsp;

Global shares had soared Monday after centrist Emmanuel Macron topped the initial vote and looked well on course to beat far-right candidate Marine Le Pen in the May 7 run-off.

&quot;Markets have continued their push higher from yesterday, although at a much more relaxed pace,&quot; said Chris Beauchamp, chief market analyst at IG trading group.&nbsp;

&quot;The immediate impact of Macron&#39;s first-round success is wearing off, but the relief is still palpable among investors.&quot;

The outlook also improved for the euro currency, which no longer looks vulnerable to a so-called Frexit threatened by Le Pen.

&quot;The risk of both the euro zone and the broader European Union unraveling dissipated in a meaningful way with centrist Emmanuel Macron finishing first in last week&#39;s preliminary election and projected to take the next and final round of voting on May 7,&quot; said Joe Manimbo, senior market analyst at Western Union Business Solutions.

In the US, gains were propelled in part by strong earnings with three Dow members posting strong advances after reporting solid earnings. Industrial giant Caterpillar surged 7.9 per cent, DuPont 3.6 per cent and McDonald&#39;s 5.6 perc ent.

Analysts also have been heartened by talk in recent days from the White House touting news of a long-awaited tax cut plan, with President Donald Trump expected to release details on Wednesday.

Key figures&nbsp;at 2100 GMT&nbsp;

New York - Dow: UP 1.1 per cent at&nbsp;20,996.12 (close)

New York - S&amp;P 500: UP 0.6 per cent at 2,388.61 (close)

New York - Nasdaq: UP 0.7 per cent at 6,025.49 (close)

London - FTSE 100: UP 0.2&nbsp;per cent at 7,275.64 points (close)

Frankfurt - DAX 30: UP 0.1 per cent at 12,467.04 (close)

Paris - CAC 40: UP 0.2&nbsp;per cent at 5,277.88 (close)

EURO STOXX 50: UP 0.2&nbsp;per cent at 3,583.16

Tokyo - Nikkei 225: UP 1.1 per cent at 19,079.33 (close)

Hong Kong - Hang Seng: UP 1.3 per cent at 24,455.94 (close)

Shanghai - Composite: UP 0.2 per cent at 3,134.57 (close)

Euro/dollar: UP at $1.0934 from $1.0867 at 2100 GMT

Pound/dollar: UP at $1.2835 from $1.2793

Dollar/yen: UP at 111.12 yen from 109.78 yen

Oil - Brent North Sea: UP 50 cents at $52.10 per barrel

Oil - West Texas Intermediate: UP 33 cents at $49.56 per barrel&nbsp;

(AFP)

The outlook also improved for the euro currency, after Macron fared better than eurosceptic Marine Le Pen in the first round of French polls

Stock markets mostly rose Tuesday following the previous session's record runs triggered by the first-round result of France's presidential election. Gains were strongest in the US, where the Nasdaq surged above 6,000 for the first time and the blue-chip Dow index jumped more than one per cent following several strong earnings reports from big companies. The increases were more modest among European equity indices, while the euro reached its highest level so far of 2017 against the dollar. Global shares had soared Monday after centrist Emmanuel Macron topped the initial vote and looked well on course to beat far-right candidate Marine Le Pen in the May 7 run-off. "Markets have continued their push higher from yesterday, although at a much more relaxed pace," said Chris Beauchamp, chief market analyst at IG trading group. "The immediate impact of Macron's first-round success is wearing off, but the relief is still palpable among investors." The outlook also improved for the euro currency, which no longer looks vulnerable to a so-called Frexit threatened by Le Pen. "The risk of both the euro zone and the broader European Union unraveling dissipated in a meaningful way with centrist Emmanuel Macron finishing first in last week's preliminary election and projected to take the next and final round of voting on May 7," said Joe Manimbo, senior market analyst at Western Union Business Solutions. In the US, gains were propelled in part by strong earnings with three Dow members posting strong advances after reporting solid earnings. Industrial giant Caterpillar surged 7.9 per cent, DuPont 3.6 per cent and McDonald's 5.6 perc ent. Analysts also have been heartened by talk in recent days from the White House touting news of a long-awaited tax cut plan, with President Donald Trump expected to release details on Wednesday. Key figures at 2100 GMT New York - Dow: UP 1.1 per cent at 20,996.12 (close) New York - S&P 500: UP 0.6 per cent at 2,388.61 (close) New York - Nasdaq: UP 0.7 per cent at 6,025.49 (close) London - FTSE 100: UP 0.2 per cent at 7,275.64 points (close) Frankfurt - DAX 30: UP 0.1 per cent at 12,467.04 (close) Paris - CAC 40: UP 0.2 per cent at 5,277.88 (close) EURO STOXX 50: UP 0.2 per cent at 3,583.16 Tokyo - Nikkei 225: UP 1.1 per cent at 19,079.33 (close) Hong Kong - Hang Seng: UP 1.3 per cent at 24,455.94 (close) Shanghai - Composite: UP 0.2 per cent at 3,134.57 (close) Euro/dollar: UP at $1.0934 from $1.0867 at 2100 GMT Pound/dollar: UP at $1.2835 from $1.2793 Dollar/yen: UP at 111.12 yen from 109.78 yen Oil - Brent North Sea: UP 50 cents at $52.10 per barrel Oil - West Texas Intermediate: UP 33 cents at $49.56 per barrel (AFP)

French election result revs up global stocks; Nasdaq touches 6,000

US stock markets tumbled more than five per cent in after-hours trading early Wednesday as Republican billionaire Donald Trump appeared poised to defeat Democratic rival Hillary Clinton in the race for the White House.

Futures markets for the S&amp;P 500 fell 5.01 per cent and the tech-heavy NASDAQ lost 5.08 per cent, reflecting the growing concerns among investors about the economic risks posed by a Trump presidency. The Dow Jones index fell 4.30 per cent.

As results came in pointing to an astonishing upset win by Trump, markets that had counted on Clinton to win were caught up in a growing wave of panic.

Stocks had risen Tuesday, with Dow Jones index up 0.40 per cent and the Nasdaq up 0.53 per cent.

Futures contracts, which fell while Wall Street was closed, reflect investor sentiment on what will happen down the road.

The wave of panic also hit Asia as markets dropped at the opening bell, mainly in Bombay, which dropped 6.08 per cent and Tokyo, 5.5 per cent.

Markets have long preferred Clinton to Trump, who is seen as unpredictable. His positions against free trade accords and immigration worry big companies and are seen as a possible curb to economic growth.

(AFP)

Markets that had counted on Clinton to win were caught up in a growing wave of panic

US stock markets tumbled more than five per cent in after-hours trading early Wednesday as Republican billionaire Donald Trump appeared poised to defeat Democratic rival Hillary Clinton in the race for the White House. Futures markets for the S&P 500 fell 5.01 per cent and the tech-heavy NASDAQ lost 5.08 per cent, reflecting the growing concerns among investors about the economic risks posed by a Trump presidency. The Dow Jones index fell 4.30 per cent. As results came in pointing to an astonishing upset win by Trump, markets that had counted on Clinton to win were caught up in a growing wave of panic. Stocks had risen Tuesday, with Dow Jones index up 0.40 per cent and the Nasdaq up 0.53 per cent. Futures contracts, which fell while Wall Street was closed, reflect investor sentiment on what will happen down the road. The wave of panic also hit Asia as markets dropped at the opening bell, mainly in Bombay, which dropped 6.08 per cent and Tokyo, 5.5 per cent. Markets have long preferred Clinton to Trump, who is seen as unpredictable. His positions against free trade accords and immigration worry big companies and are seen as a possible curb to economic growth. (AFP)

US stock futures tumble 5% on fears of Trump win

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