Nov 10, 2016 (LBO) - US share markets rose on Wednesday shrugging off concerns that a Donald Trump presidential victory was bad for Wall Street.
The Dow Jones rallied 1.4 percent, S&P 500 1.1 percent and Nasdaq rose 1.1 percent, after the pre-open futures market initially forecast a sell-off of as much as 4 percent following Trump's victory. Money initially flowed into safe haven stocks, gold and currencies including the yen, but as the day went on, global markets recovered, BBC reported. In London the FTSE 100 index dropped 2 percent at the start of trading before recovering to end the day 1 percent up. The biggest winners on the FTSE 100 were pharmaceutical firms, defence and mining companies, while banks and retailers were among the losers. "What you're seeing is healthcare companies which had been threatened by some of Hillary Clinton's policies actually recovering quite strongly," Ben Ritchie, senior fund manager at Aberdeen Asset Management, told the BBC.
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