London — Oil fell below $46 a barrel on Wednesday as Donald Trump’s surprise victory in the US presidential election sent markets into turmoil reminiscent of June’s Brexit vote. The global benchmark, Brent crude, fell almost 4% to the lowest since August in Asian trading, as results had shown Trump gaining ground, although it later recovered some of its losses. Brent was down 47 US cents at $45.57 a barrel by 9.04am GMT, having traded intraday as low as $44.40, the weakest since August 11. US crude fell 50c to $44.48. "The US is experiencing its own version of Brexit," FXTM chief market strategist Hussein Sayed said. "Investors are panicking as a Trump victory means economic and political turmoil ahead." Britain’s referendum vote to leave the EU, similarly a surprise result, also led to turmoil in financial markets. The dollar fell sharply against a basket of other leading currencies and European equities dropped, while gold, a traditional safe haven for investors in times of high e...
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