US election results: Donald Trump or Kamala Harris? Wall Street, Stock market pick winner
US election 2024 results are set to be declared after November 5 polling day as millions of American voters will pick their next President between Donald Trump and Kamala Harris.
A new poll showed Democratic candidate Kamala Harris leading in Iowa ahead of a Tuesday vote, even though rising bets of a win for Republican candidate Donald Trump in the recent weeks had lifted bond yields, dollar and bitcoin, as per a Reuters report.
Stocks viewed as bets on the former president's chances of victory dipped in premarket trading, while a drop in 10-year Treasury yield from its recent high eased pressure on the broader market. Trump Media & Technology Group slipped 5 per cent and software developer Phunware that made apps for Trump campaign in 2020 fell 8.9 per cent, as per the Reuters report.
Betting site PredictIT showed Harris at 53 cents compared to him on 51 cents — what investors are willing to wager for a chance to win $1 — compared to 42 cents to 61 cents just a week ago, Reuters reported.
The winner of the presidential race might not be known for days after voting ends on Tuesday and could result in choppy trading as investors await clarity on the policy implications.
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