Daily Archive: November 4, 2020

The dollar, Bitcoin soar as the markets contend with a dreaded, contested election

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Good morning. If you are looking for clarity about the future, the markets won’t be a great help today. At this hour, back in 2016, the election was more or less a known outcome. We’re far from that kind of certainty right now.

And on cue, U.S. futures have whipsawed up and down as we head into at least several more hours, if not days, of uncertainty over a handful of battleground states that could determine not just the presidency, but control of the Senate.

That investor tension was on display around 3 a.m. EST this morning. It was right around that time when Donald Trump took to the podium and vowed to contest the election results before the Supreme Court, sending Dow and Read More

Stocks turn positive in knife-edge U.S. election race By Reuters

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© Reuters. A monitor shows Nikkei stock index at a foreign exchange trading company in Tokyo

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By Wayne Cole and Marc Jones

LONDON/SYDNEY (Reuters) – Share markets and the dollar whipsawed while bonds gained on Wednesday as results from the U.S. presidential election proved far closer than polls had predicted, potentially leaving the outcome in doubt for days or even weeks.

Democratic contender Joe Biden took to the air to declare he was optimistic about winning and called for all votes to be counted, no matter how long it took.

President Donald Trump responded in trademark combative style, saying he had won, that “they” were trying to steal the election, and that he would go the U.S. Supreme Court to fight for victory. (Full Story)

Investors had initially wagered that a possible Democratic sweep by Biden could ease political risk and provide a boost to fiscal stimulus.

But

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