As President-elect Donald Trump’s chances of becoming president increased exponentially last night, the Mexican peso bottomed out as currency traders realized that Trump might actually win.
As of early Wednesday morning, the Peso was down roughly 10 percent — a massive drop in such a short amount of time — and it was likely to continue to fluctuate severely in the next few days, Prothom Alo reported.
The peso wasn’t alone. Stock futures were down by roughly 700 points before markets in America even opened. Markets around the world were also reacting negatively to the uncertainty of America’s next president having never held elected office.
These markets will recover, but their reaction was actually quite important. The major reason the peso tanked was because people in Mexico actually think that Trump will build that wall, and he will make America great again.
Mexico has been leaching off of America for a long time, and now people realize that they can no longer bet on that happening — hence the massive economic sell-offs.
If Trump were just another spineless politician, markets wouldn’t have reacted so poorly to his unexpected victory. Markets know that Trump is serious about his policies, and that terrifies them.
The markets were reacting in a similar way to what they did after the Brexit vote. Markets don’t like surprises, and Trump defeating former Democrat nominee Hillary Clinton certainly is one of the biggest political surprises of our lifetimes.
America is likely going to change drastically over the next four years — for the better. Right now things are uncertain, and the markets will reflect that for a while, but eventually things will calm down.
Trump’s victory speech very early Wednesday morning showed that he was ready to heal the divisions in this country and work together to fix everything that is broken with this country.
It’s going to be an interesting four years!
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