Why the markets are relatively calm after Donald Trump's election

Dollar's reputation and possible tax cuts go towards explaining reaction. But dangers presented by his presidency must not be ignored
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Can't investors see that the next US president is completely untested in office, is an economic isolationist and a geopolitical accident waiting to happen? Apparently not. Or, rather, the investment world decided such worries can wait for another day.

The election of Donald Trump provoked only brief panic. The Nikkei index in Japan, a real-time barometer as results from the US states arrived, fell 5%, but European markets were calm, relative to expectations. The FTSE 100 index, after a brief plunge, regained all the ground lost in the first hour of trading. The US dollar was broadly stable against major currencies, as was the US Treasury market.