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U.S. Presidential Election: Global Stock Market Surge

International Desk

  06 Nov 2024, 10:32
Photo: Collected

The forecast of the results of the U.S. presidential election has led to a surge in stock markets worldwide. On Wednesday morning, benchmark share indices in Japan and Australia were trending upward. Meanwhile, as investors closely monitored the U.S. election results, the value of the U.S. dollar also rose against major currencies.

The outcome of this election is expected to have a significant impact on the global economy, especially in Asia. It remains uncertain whether the results will be known during the trading hours in Asia, as the vote count in the swing states could take some time.

In the U.S. presidential election, voting has already concluded in over 40 of the country’s 50 states. Forecasts of the results are gradually beginning to emerge. However, the wait for results from some states could be extended further.

So far, in the early results, Donald Trump is leading. His Republican Party has approximately secured 210 electoral votes. Meanwhile, Democratic candidate Kamala Harris has won 113 electoral votes. A total of 270 electoral votes is required to win the election.

Trump is currently ahead based on the results from his stronghold states. The results from the battleground states are still unknown.

Donald Trump is set to win in states such as Texas, South Dakota, North Dakota, Wyoming, Arkansas, and South Carolina. Kamala Harris is winning in states like Delaware and Rhode Island.

According to BBC, Michigan, Pennsylvania, Wisconsin, Georgia, Minnesota, North Carolina, Arizona, and Nevada are witnessing fierce competition between the two candidates, with very narrow vote margins in these states.

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