Nothing Much To See Here. The Nikkei Is Down 4.5 Percent

A divided America is causing genuine global panic.

For some reason, the Nikkei 225, Japan's main stock index, posted a 4 percent decline during trading early Wednesday. As of 12 a.m. EST.


You can probably guess why.

This year's election feels like a perfectly American phenomenon: self-proclaimed billionaire and reality TV punchline overtakes a liberal democracy thanks to superior cable ratings and Nativism 101. But it's too simple to cast it as a local event. Trumpism is global. And in a shallower sense, so are its market echoes.

The peso was down 11 percent. He has promised to make Mexico pay for the Wall. Expect cement manufacturers see price gains in the near term.

Gold up 4 percent.

That's all I got.