How will the US presidential contest between Hillary Clinton and Donald Trump shape Q4? Steen Jakobsen, chief economist at Saxo Bank, explains his view on what awaits us.

Speaking from New York, he says that it is clear that the US is in a state of emergency outside its major cities.

Many US citizens believe that the country is in deep recession, says Jakobsen, who predicts that many will think about this issue when casting their vote on election day on November 8 - and that the market is unprepared for the reaction.