Stocks reel from Trump win

THE local stock market suffered a heavy blow on Wednesday as Donald Trump arguably unexpectedly won the US presidential election. Uncertainty over his future economic policies, his stance towards trade and immigration, among others, sent the Dow futures crashing 700 points and took more than 50 points off the Straits Times Index (STI) at one stage. The index eventually benefited from a bout of short covering that cut its loss to 30.36 points at 2,789.88.

Turnover swelled to 2.2 billion units worth S$1.8 billion - the fifth consecutive day that dollar business crossed S$1 billion but the highest in many weeks. Excluding warrants, t…