ASX plunges as markets brace for Trump victory

Investors endured a rollercoaster ride on Wednesday as the sharemarket at first rallied only to plunge as it became clear that investors had underestimated the odds of a Donald Trump US presidential election victory.

The S&P/ASX 200 index ended the session 1.9 per cent or 101 points lower at 5157 points, but swung wildly from early gains of 1.1 per cent to its afternoon nadir when it traded down by as much as 3.9 per cent and even looked set to push below 5000 points as it followed Wall St futures lower.