Actions

Financial markets around the world rally, shrugging off presidential limbo

Financial markets around the world rally, shrugging off presidential limbo
Posted at 6:11 AM, Nov 05, 2020
and last updated 2020-11-05 09:15:51-05

U.S. futures and world shares have surged as investors await the outcome of the U.S. presidential election and embrace the upside of more gridlock in Washington.

European markets opened higher after a day of gains in Asia.

The fate of the U.S. presidency remained undecided as of early Thursday as neither President Donald Trump or Democratic challenger Joe Biden had secured the 270 Electoral College votes needed to win.

Analysts say a Congress likely once again split between a Democratic House and a Republican Senate is expected to keep U.S. tax and other policies relatively stable thanks to legislative gridlock. Share prices tend to rise regardless of who is in the White House.