Finance executives fret as US presidential election too close to call

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Wall Street and financial industry executives urged caution on Tuesday evening as no clear winner emerged in the hours after polls closed in the ...

NEW YORK/LONDON: Wall Street and global financial executives are waiting anxiously for a clear winner in the 2020 U.S. election after President Donald Trump called foul play, stoking fears of a drawn-out count that keeps markets and businesses hanging.

"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. European banks who had staffed trading floors overnight reported a long night of talking to nervous clients. Jim McCormick, global head of desk strategy at British investment bank NatWest Markets, said it would be"all hands on deck" with the outcome still so uncertain.

In anticipation of possible protests, some buildings and stores were boarded up in cities such as Washington and New York. He has attacked corporate leaders, including JPMorgan Chase & Co CEO Jamie Dimon, and Wall Street chiefs have distanced themselves from Trump as he came under fire over his handling of the pandemic and racial justice protests.

 

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