donald trump president hillary clinton election

Wall Street made a quick shift from cheering on Hillary Clinton to being OK with a Donald Trump presidency.

The Dow Jones Industrial Average — which shot up 371 points on Monday as Clinton seemed in ascendency and then suffered a steep drop overnight Tuesday into Wednesday — was hovering a the unchanged mark or slightly down in midmorning trading. The broader S&P 500 was down 0.3 percent to 2,133.38.

More on the 2016 election: The fashion industry weighs in on Trump’s top priority.

Investors overseas appeared unsure what to make of the rise of Trump, who courted voters with a vision of America that would renegotiate trade agreements and reset its relationship with the world while boosting employment at home.

The Nikkei 225 in Tokyo closed down 5.4 percent to 16,251.54, but European markets were mixed as trading there wound down. The FTSE MIB in Milan was off 1.3 percent to 16,594.97, but the FTSE 100 in London was up 0.3 percent to 6,866.79.

A few stocks in U.S. fashion world gained ground, including Gap Inc., up 1.1 percent to $26.76, and Lands’ End Inc., 1.5 percent to $17.

But shares of most in the industry were falling.

Coty Inc. was hit hardest and for its own reasons, falling 13.2 percent to $19.01 as it reported declining sales and profits from its P&G beauty acquisition.

Other decliners were PVH Corp., down 3.5 percent to $103.37; U.S.-traded Chinese e-commerce giant Alibaba Group Holding Ltd., 3.3 percent to $96.52; Kate Spade & Co., 3 percent to $15.23; Inc., 3 percent to $764.22; Macy’s Inc., 2.2 percent to $37.03; Nordstrom Inc., 2.1 percent to $50.95; Procter & Gamble Co., 2 percent to $85.74; Fossil Group Inc., 2.1 percent to $26.64; Lululemon Athletica Inc., 1.4 percent to $56.15; Burlington Stores Inc., 2.1 percent to $71.24, and Coach Inc. 2 percent to $35.31.

Trump on policy: How the surprise electoral win could reshape trade and tax policies.

While consumers have been seen as distracted by political process, experts said before the election that they expected shoppers to refocus on the holiday shopping season and generally move on with their lives.


load comments
blog comments powered by Disqus