Irrespective of the initial market reaction, I do not think that the outcome of the US presidential election dictates how the markets will act in the long-term. There have been numerous studies which have shown that the presidential outcomes have limited impact on the performance of the US market and I do not think it will be any different this time. Moreover, before we discuss the potential impact of the results on various sectors, it is important to reiterate that the US President’s powers are held in check as there is a separation of executive, legislative and judicial powers. Before implementation, all federal legislation will have to pass through Congress. Consequently, even if Mr. Trump were to promote any extreme policies, it would be difficult to implement them given the US legislative structure. Therefore, it is important that investors stay focussed on company fundamentals and not get caught out by the noise/volatility created by such events.