U.S. Stock Market opens with much change after Trump's victory - WFSB 3 Connecticut


U.S. Stock Market opens with much change after Trump's victory

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(MGN photo) (MGN photo)
(WFSB) -

With predictions of a possible crash, financial markets around the world and the U.S. Stock Market opened without much drama on Wednesday morning after President-elect Donald Trump's Campaign 2016 win.

After the U.S. market opened at 9:30 a.m. on Wednesday. It happened after much overnight uncertainty.

"It was down slightly but not drastically as some of the sensationalists out there would maybe want it to be," Eric Hogarth, who is certified financial planner, said. 

Thomas Coe, a finance professor at Quinnipiac University in Hamden, told Eyewitness News that the markets around the world scrambled early Wednesday morning. He said investors were banking on a Hillary Clinton victory and they prepared for it.

Coe also said Wednesday would be a volatile day on Wall Street. He said a DOW futures 800 point drop looks more like 500 to 600 points for the morning's open.

"Look back to the plan that you have, the strategy that you're using, make sure you're getting the right advice, but in regards to should you be doing something different in the market today? The answer in our opinion is no," Hogarth said. 

Coe said U.S. investors, along with those overseas, do not yet know what a Trump presidency will look like, so he anticipated the first few months will be watched very closely.

"A lot of early, initial fears of what is going to happen, the great unknown, the risk, and that is going to move markets downward," he said. "And markets will then adjust. We probably had too much negativity initially to the news, so we will take some time and decide for what it actually means."

Coe said the market will rebound and increase as things settle down.

"Even if we have a 500-point drop today, we are going to see that over the years that is going to be a blip in the market," Coe said.

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