We'll see what the American exchanges do this morning, but the world's stock markets steadied after President-elect Donald Trump delivered a conciliatory acceptance speech in the wee hours. From Europe to Dow Jones futures to U.S. Treasuries there was an initial Brexit-like shock, but then the numbers bounced back to close to where they started.
As Kathleen Brooks, research director at City Index, told the Wall Street Journal:
"We have suffered a massive political shock, but the markets are wondering if President Trump is less of a threat to America's economy in office, compared to what he was during the campaign," she says. "This is a strange day, politically and financially."
Japan's Nikkei Index closed down more than 5 percent, but the trading day ended before Trump's speech.
If Trump's first speech moved markets that much, expect quite a ride in the coming days based on the tides of Washington news.
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