Investor worries that Donald Trump might win the U.S. presidency caused a sharp sell-off of stocks in Asian markets and pushed down futures prices for U.S. markets Wednesday morning. The value of the U.S. dollar and oil prices also fell, while traders moved money into safe-haven investments like gold.
At one point, Japan's Nikkei plunged 5.8 percent, while Hong Kong's Hang Seng dropped 3.8 percent. U.S. stock futures were off by 4 percent or more.
Markets reacted to projections by U.S. television networks that Trump would win more states than expected. Most public opinion polls had previously predicted a victory by Democrat Hillary Clinton. Republican Trump's promises to drastically change U.S. trade, tax and other policies raised uncertainties that rattled investors.
Analysts say uncertainty can slow the economy because worried businesses delay investments to avoid additional risk.
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