NEW YORK/LONDON: Financial executives worldwide are waiting for a clear winner in the U.S. election after President Donald Trump without evidence claimed foul play in the fight for the White House, stoking fears of a drawn-out count that will keep markets on edge.
"There was a lot of trepidation for this election. There were people expecting violence. The White House was fenced up," said David Bailin, chief investment officer of Citi's private banking arm. Several financial markets, including U.S. equity futures and the U.S dollar, gyrated as voting projections for swing states appeared to favour Trump.
While there were few signs of disruption or violence at polling sites on Tuesday, Trump's assertion of election cheating without citing evidence left some finance executives wondering if it was too soon to rule out civil unrest. But the U.S. financial industry is also worried about higher corporate taxes, a fresh enforcement crackdown and an emboldened consumer watchdog under Biden.
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