Financial markets tumbled Tuesday night, with futures for the Dow Jones industrial average plunging more than 700 points, as Republican presidential nominee Donald Trump’s surprisingly strong performance triggered uncertainty among investors.
Dow futures were off about 4%. Futures also dropped nearly 5% for the Nasdaq and the Standard & Poor’s 500 index as Trump threatened to upset Democratic nominee Hillary Clinton and shatter expectations on Wall Street and financial centers around the world.
Stocks were down about 2% in early morning trading across Asia while gold rallied as a safe haven.
Activists are not taking the idea of a Donald Trump presidency quietly. Hundreds of demonstrators across the U.S. hit the pavement during the day and evening Wednesday to protest the Republican's electoral victory.
California voters have approved Proposition 51, a $9-billion bond for school construction projects across the state.
The measure was leading 53.9% to 46.1%, according to election returns at 5 a.m. Wednesday, and the Associated Press has called the victory.
State funding to help finance repairs and new school facilities across California had run dry, and Proposition 51 will refill the pot. School construction needs billions of dollars every year, according to the nonpartisan Legislative Analyst's Office. With the new cash infusion, the state will once again match local district funding for construction projects.
California voters have approved a significant change of the rules in how proposed laws are approved by the Legislature, overwhelmingly supporting a new mandate for public review of legislation before any final vote.
The change in legislative rules was long discussed in the state Capitol but failed to gain momentum until the initiative written by a former GOP legislator and bankrolled by a wealthy Bay Area activist.