Global markets reacted early Wednesday to former President Donald Trump's apparent victory with a mix of fear and anticipation, as the presumptive winner's proposed economic policies promise a smooth ride for U.S. stocks and a difficult ride for emerging markets, as well as an intensified trade war with China.

The largest U.S. index rose in premarket trading, a sign that Trump's plans to cut regulation and cut taxes are seen as good for business, at least in the short term, and the dollar strengthened against most major currencies. Asian stock markets reacted differently: Japan's blue-chip Nikkei index rose more than 2 percent, which was also reflected to a lesser extent on the Indian mainboard, while Shanghai's composite index fell slightly, similar to the renminbi against the dollar, a slide This is reflected in most smaller economies, which will bear the brunt of renewed calls for US tariffs and further hurdles to global trade. Meanwhile, Iran's currency plunged amid the prospect of Trump 2.0.

Global markets reacted early Wednesday to former President Donald Trump's apparent victory with a mix of fear and anticipation, as the presumptive winner's proposed economic policies promise a smooth ride for U.S. stocks and a difficult ride for emerging markets, as well as an intensified trade war with China.

The largest U.S. index rose in premarket trading, a sign that Trump's plans to cut regulation and cut taxes are seen as good for business, at least in the short term, and the dollar strengthened against most major currencies. Asian stock markets reacted differently: Japan's blue-chip Nikkei index rose more than 2 percent, which was also reflected to a lesser extent on the Indian mainboard, while Shanghai's composite index fell slightly, similar to the renminbi against the dollar, a slide This is reflected in most smaller economies, which will bear the brunt of renewed calls for US tariffs and further hurdles to global trade. Meanwhile, Iran's currency plunged amid the prospect of Trump 2.0.

Trump's stunning result – he declared victory around 2:30 a.m. and appears poised to take control of both chambers of Congress – left other markets wrestling with a mix of optimism and coolness. Major cryptocurrencies like Bitcoin jumped to new highs on expectations that Trump's economic plan would lead to larger deficits, lower interest rates and higher inflation; This makes alternative assets such as cryptocurrencies more attractive.

The oil market, an indicator of investors' fears about geopolitical risks, took Trump's dominance in stride, with prices of both U.S. and Brent crude falling slightly in premarket trading, a sign that the next U.S. administration will take a Pursuing an oil-friendly energy policy will be policy without further fueling the conflict in the Middle East.