Some banks are projecting a more extreme drop in the event of a victory for Trump.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Big global banks, including Morgan Stanley, JPMorgan Chase & Co. and HSBC are bracing for potential tumult on financial markets after Tuesday's U.S. election. As the outcome of the most bitterly fought U.S. presidential elections starts to roll out by Wednesday in Asia, the regional markets will be the first to trade on the results.As a result, Asia-focused banks HSBC and Japan's Nomura Holdings Ltd. are among institutions boosting staff levels, while others are raising the margin requirements for trading to cope with a possible spike in volume or volatility.Some banks are projecting a more extreme drop in the event of a victory for Republican Donald Trump, with Citigroup Inc. estimating that a Trump victory could trigger a 3 percent to 5 percent sell-off for the S&P 500 .Another official at a rival bank said Monday's 2.2 percent rally in U.S. stocks had lowered Wall Street's collective angst over the election to DEFCON 4 from DEFCON 2, referring to the U.S. Defense Department's levels of alert.
FOLLOW THIS ARTICLE