The New Zealand share prices rallied sharply in response to a post-election rebound on Wall Street, with the NZX-50 index jumping by 3.3 per cent in the opening minutes of trade.

After 15 minutes, the index was up 221 points at 6885.3 - wiping out yesterday's losses.

In the United States, the Dow Jones Industrial Index rallied by 257 points or 1.4 per cent after futures market trading had earlier pointed to a severe, election-inspired, fall.

US financial markets staged a huge flip flop on the back of the surprise win for Donald Trump in the US Presidential election.

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Wall Street stocks rebounded strongly, the US dollar regained lost ground and US treasury yields firmed to eight-month highs.

As the evening progressed and the possibility of a Trump victory grew, US S&P stock futures plunged by 5 per cent or "limit down" - the maximum decline permitted before trading curbs kick. But later in the night, futures trading reversed, the index putting on a 1 per cent gain.

Likewise the US dollar was sold down sharply against the yen and several other currencies, only to erase its losses later in the night.

In US-10 year bonds - the bellwether instrument for borrowing costs - the yield shot up to 2.06 per cent from 1.7 per cent, reflecting expectations of higher inflation and the increased likelihood of a rate hike from the US Federal Reserve in December.

"We have had a massive flip flop - something that we don't see very often," Imre Speizer, senior markets strategist at Westpac, said.

"It was probably on a quick assessment that his policies were probably going to be good for growth," he said.