The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) closed 1.9% lower today as investors reacted to a Donald Trump victory in the US presidential election. Similar or more severe falls are likely in stock markets around the world as the result is confirmed and digested.

Personally, I hope markets continue to decline over coming weeks because I will be on the lookout for bargains.

In my opinion the election of Donald Trump will probably have little impact on the performance of the clear majority of ASX listed companies. Therefore, the further prices fall the greater the opportunity for investors.

Aside from allocating my spare cash to any emerging opportunities, I won’t be doing much else. I certainly won’t be selling. Why would I sell if the prospects of the companies I own remain unchanged?

My best guess as to why markets have reacted so severely to the news is that Trump is a wild card and his election increases economic risks.

I disagree with this view as whilst he may have said some controversial things during the election I struggle to envisage how his actions as president could have much impact on ASX-listed companies.

There are plenty of checks in place to ensure that he cannot do exactly as he pleases and more importantly, I have not heard him say he plans to do anything that would have a significantly negative effect on Australia’s economy in any way.

It is true that his position on international trade is not particularly business friendly but he is yet to put forward any coherent plans on this issue and I think the chance of an impact on Australian exporters is slim. Meanwhile, his plans to reform tax laws to enable US companies to repatriate cash will have a positive impact on the US economy.

So, I will just carry on doing what I usually do following this news, which is to look for growing companies trading at low prices. Hopefully, the market obliges and I find a few over the coming days!

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Motley Fool contributor Matt Brazier has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.