The markets opened London with huge drops as Donald Trump wins the US presidential election.
The FTSE 100 was down 144 points, around two per cent to 6696.3, and the FTSE 250 opened down 300 points. However, later much of it was recovered.
The prospect spooked US investors, as traders move to shift stocks.
Gold has risen around 4.9 per cent overnight to reach $1,337.4 an ounce. There has also been a global sell-off of equities.
The Nikkei closed down 5.36 per cent this morning at 16,251.54. The Dow Jones is expected to open around 500 points down this afternoon.
The markets in Paris have also opened down – by 2.88 per cent.
Currency markets are all over the place. The Mexican peso, seen as a barometer for the US leadership race, has plunged to record lows in recent hours.
The news has sent the pound up more than 1.2 per cent up against the dollar this morning, and gold prices have soared as investors rush to safe haven assets in anticipation of economic volatility ahead.
And brent crude oil was trading down 1.6 per cent at $45 a barrel this morning.
The Republican just told supporters at a rally in New York: "We will double our growth and have great relationships [with other countries]." US growth is currently 2.9 per cent.
The Democrat candidate Hillary Clinton has conceded defeat to Trump on the phone.