Donald Trump 'dangerous, destructive' say 370 US economists

Donald Trump is not favoured by economists. Photo / AP

Donald Trump is a "dangerous and destructive" presidential choice for Americans, US economists are warning.

The Wall Street Journal reported a group of 370 prominent economists and eight Nobel laureates have opposed the Republican candidate in an open letter.

In the scathing letter, published on Tuesday, economists accuse Trump of misinforming the electorate and promoting "magical thinking and conspiracy theories over sober assessments of feasible economic policy options."

"Donald Trump is a dangerous, destructive choice for the country. He misinforms the electorate, degrades trust in public institutions with conspiracy theories, and promotes willful delusion over engagement with reality," the letter states.

"If elected, he poses a unique danger to the functioning of democratic and economic institutions, and to the prosperity of the country. For these reasons, we strongly recommend that you do not vote for Donald Trump."

Despite the opposition to Trump, economists are also against Hillary Clinton's policies. In September more than 300 economists published a letter addressing Clinton's "ill-advised economic agenda."

Trump's odds at a win are narrowing and markets are bracing for Brexit 2.0.

As the Republican nominee pulls even with Clinton in the polls following the FBI's email probe bombshell, financial markets around the world are seeing heavy selling.

The Vix index - commonly referred to as Wall Street's "fear gauge", which measures expectations of stock market volatility, has risen to its highest level since the UK's Brexit vote, the Financial Times reported.

Meanwhile, gold spiked overnight, and the Mexican peso plunged.