YOUNGSTOWN, Ohio - Stock market futures plunged as a Trump presidency became more apparent Tuesday night but by the end of the day Wednesday stocks closed sharply higher. A local financial expert explained what you need to know for your investments.

Before the stock market opened Wednesday, there were already negative predictions after Donald Trump's surprise win, according to the Associated Press.

CNBC reported that just before midnight, S&P 500 futures and Nasdaq 100 futures plunged more than 5 percent. Plus Dow futures dropped 800 points at one point.

However the AP reported that after Trump's fairly conciliatory acceptance speech, prospects moved up and by the end of the day stocks ended higher.

"We've been consistently told that markets would sell off if Trump was elected. Here today we have the major indices up over a percent. The Dow came close to a record high today. I think if we've learned anything it's don't make long term decisions based on short term expectations," explained Farmers Trust Senior Vice President and Chief Investment Officer David Dastoli.

Dastoli said that you don't need to change your long term strategy because of who was elected.

He expected the volatility to level off a little now that there's certainty over the winner.

"Certainly some of the things he's discussed about- cutting taxes, a tax holiday to repatriate cash overseas- a lot of those things would be very business friendly and pro growth. So I think the market kind of showed us some of that today."

There were winners and losers among different stocks based on Trump's proposed policies. Energy infrastructure companies like the ones that would build the Keystone pipeline, small businesses, banks, and drugmakers did well.

"We've seen hospital stock do very well with the Affordable Care Act and more traffic being driven into health care facilities. We've seen those companies do very well leading up into the election and now with discussions of repealing the Affordable Care Act those stocks haven't done as well," he commented.

Also the bond market went down Wednesday, so interest rates went up.