World markets shows little variation on Tuesday as investors looked beyond Joe Biden’s exit from the U.S. presidential race, turning their focus to corporate earnings and economic data.
The likely Democratic nominee, Vice President Kamala Harris will campaign on Tuesday in the battleground state of Wisconsin.
The stock index for the whole of Europe grew by 0.1% in opens new tab, while U.S. futures declined by 0.2% after the S&P 500 increased by 1.1% on Monday.
Tuesday saw little change in the value of the US dollar compared to a basket of currencies after it had slightly increased on Monday.
“After absorbing the news over the weekend that Biden was stepping down, markets seem to be in a bit of a holding pattern this morning.”
The American president’s withdrawal from the race has raised some doubts about Donald Trump’s ability to lead the Republicans to victory and could lead investors to unwind predictions that a win will increase inflation and the nation’s debt.
Based on analysis. investors will now focus on whether the polls indicate a stronger campaign against Trump than it was during Biden’s Democratic candidacy.
“You’d expect that, were polls to narrow, and the race be seen as a closer contest, volatility to tick higher, and perhaps some downside creep into the equity space too,” he stated.
Even yet, Tuesday’s gains in Asian markets were sustained by Taiwan’s benchmark (.TWII), which opened a new page and overcame five sessions of losses to rise by more than 2%.
