Global stocks, dollar gain as unclear US election thwarts Democratic sweep | Malay Mail

Thursday, 05 Nov 2020 06:55 AM MYT

Biden extended his narrow lead in Michigan while maintaining a slight edge in Wisconsin, according to Edison Research. CNN and the Associated Press projected Biden would win the state. Growth stocks pushed the major indexes on Wall Street sharply higher on the notion that a divided Congress would curb efforts to tax the big US technology heavyweights.

On Wall Street, the Dow Jones Industrial Average rose 1.34 per cent and the S&P 500 gained 2.20 per cent. The Nasdaq Composite added 3.85 per cent — the biggest daily percentage gain since mid-April. Long-dated US Treasury yields, which had climbed to multi-month highs ahead of the election results, plummeted when the likelihood of a Democratic sweep that had been priced into the market faded.

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Global stocks sweat on US election race, safe-haven bonds gain | Malay MailLONDON, Nov 4 — Share markets were whipsawed, while bonds and the dollar gained today as results from the US presidential election proved far closer than polls had predicted, potentially leaving the outcome in doubt for days or weeks. Democratic contender Joe Biden took to the air to declare he...
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