Finance executives fret as U.S. presidential vote too close to call

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NEW YORK/LONDON - Financial executives worldwide are waiting for a clear winner in the US elections after President Donald Trump without evidence claimed foul play in the fight for the White House, st

oking fears of a drawn-out count that will keep markets on edge.

Many executives said they did not support all Biden's policies, but said they believed he would be more predictable and better for the country. Global investors on Wednesday began reversing some Biden trades that had prompted a jump in Wall Street's main indexes on Tuesday. Bank stocks in Europe fell, with the STOXX index of European lenders down 2% while the main bourses in London , Paris and Frankfurt rose by 0.2% to 0.3% by 1130 GMT.

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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