Shares of most US-listed shipowners fell into red numbers in pre-market trading on Wednesday after the Donald Trump-led Republican sweep in the US political elections.
This ran counter to the direction of the broader stock indices, as Dow futures soared 3%, while both the S&P 500 and Nasdaq gained roughly 2% in the pre-market.
Concerns for the shipping stocks range from the possible unwinding of “disruption” trading that has buoyed some sectors in 2024 — as Trump favours quick resolution of the Russia-Ukraine conflict — to the possibility he will honour campaign pledges by entering a tariffs war with China.
