November 9, 2016 / 7:17 AM / a year ago

European stock futures slide on prospect of Trump presidency

LONDON, Nov 9 (Reuters) - European stock futures fell sharply on Wednesday and were poised for their worst day since the Brexit vote in the UK as global markets were left stunned by the rising possibility of Republican candidate and political outsider Donald Trump becoming the next U.S. President.

Futures for the Euro STOXX 50 fell 4.2 percent, and futures for the STOXX 600 were down 4.1 percent. Futures for the FTSE, DAX and CAC were down 3.3-3.9 percent lower.

Republican Donald Trump edged closer to winning the White House with a series of shocking wins in key states such as Florida and Ohio, rattling world markets that had expected Democrat Hillary Clinton to defeat the political outsider in Tuesday’s U.S. election.

Analysts said that markets had been positioned for a Clinton win, and that substantial uncertainty over Trump’s policy positions and the impact of his views on areas like trade were spooking markets.

“A Trump presidency is not good news in itself: US isolationism and protectionism is bad news for trade and potentially for economic growth,” said Ronny Claeys, senior strategist at KBC Asset Management in Brussels.”

“We do not really know what his policies will be (his plans were too vague or too contradictory) so we have increased uncertainty.” (Reporting by Alistair Smout, Editing by Vikram Subhedar)

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