Markets Mimic Pre-Brexit Conditions Before U.S. Election: Chart

While financial markets are rallying as polls point to a Hillary Clinton victory in the U.S. election, trading patterns around Britain’s referendum on European Union membership provide a cautionary tale. A similar rally in stocks, emerging markets and commodities on the day of the U.K. vote gave way to a slump -- and a rebound in haven assets -- after the unexpected decision in favor of Brexit. The outlier this time around is the dollar, which is strengthening, having weakened before Britain’s plebiscite.