Wednesday Nov 4 2020 09:21
2 min
Markets have been whipsawed by competing and conflicting indicators of who will win the 2020 US presidential election.
Ahead of the European open, Donald Trump sent futures lower by declaring victory in the election before all the counting is over. He played the voter fraud card and this undoubtedly unsettled markets, since a long and protracted battle in the courts is precisely what investors do not want.
Trump spoke of trying to protect the “integrity” of the vote – choosing to frame this has he being the defender of the constitution, not the usurper. Trump said that “we have already won this” and that “we will be going to the US Supreme Court”, whilst talking about the Democrats “disenfranchising” voters. Nevertheless, Trump can still win this vote, whilst European cash equity markets recovered some poise after the first hour of trade to claw their way back to the flatline, whilst US futures remain broadly positive, led by Tech.
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