Investors on the watch for who will be next US president
Al Jazeera
Caution prevailed on Monday as the winner of the tightly contested presidential election may be unknown for days.
United States stock indexes were trading flat to lower on Monday, as investors braced for a pivotal week for global markets in which Americans will elect a new president and the Federal Reserve is likely to cut its benchmark policy rate.
Caution prevailed as the winner of the tightly contested election between Democratic candidate Kamala Harris and Republican nominee Donald Trump might not be known for days after the voting ends on Tuesday.
Some of the so-called “Trump trades” lost ground after a recent poll showed Harris leading in Iowa, triggering a retreat in US dollar, bond yields and Bitcoin.
Harris’s odds have improved on several betting sites, an election indicator that many market participants watch closely.
“This is the biggest event for markets for the year … but we think it’s wisest not to make big [investment] bets,” said Michael Reynolds, vice president of investment strategy at Glenmede.
