World News – United States – Global stocks lose ground, US futures turn negative after Trump says he will ask Supreme Court to stop vote counting


Global stock markets slashed gains on Wednesday after President Donald Trump said he would ask the Supreme Court to stop tallying all contested election and victory actually declared, despite the results in a number of states still unavailable

Trump falsely claimed on Twitter earlier today that Democrats stole the election, as was widely expected, given he had often said, in the run-up to the vote, that he there would be mass fraud with mail ballots The tally so far has shown Democratic opponent Joe Biden a slight lead, based on electoral college votes

« We’re going to win and as far as I’m concerned we’ve already done it, » he told his base at his campaign headquarters and added that he would go to the Supreme Court to stop the vote count

« Arguably, language on both sides could promote election contestation if the results are close. This too would likely erode risk appetite and support the greenback, » Rabobank strategists said

The MSCI All-World Index was still up 09%, after rising 2% earlier, as US and European equity futures reversed course and fell sharply, and the markets Asian stockholders cut their earnings

« Given that the risk of a contested election is higher than the market price – and US stocks have sold 8% as the Supreme Court ruled what to do with the Florida recount in 2000 – our overall bias is that risky assets and risk sensitive currencies will remain vulnerable this week, ”said Chris Turner, ING strategist

US benchmark futures fell, reversing past losses, while VIX volatility index futures soared S&P 500, Dow Jones and the small-cap Russell 2000 are between 08 and 34%, while those of the Nasdaq 100 were still up 09%, after rising almost 3%

Read more: Jeff Gundlach, King of bonds, predicts Trump victory, but with ‘much less conviction’ than in 2016 He and famous economist David Rosenberg share their picks for the best areas and the safest to invest in a post-electoral world

The dollar rallied higher, gaining in particular against emerging market currencies more sensitive to trade with the United States, such as the Mexican peso and the Chinese yuan, which briefly hit their lowest levels of one. months against the US currency

« One of the few things that is clear so far is that we are not going to see a landslide victory for the Democrats as the polls had suggested. This has undermined a forex market that was positioned for some clarity Chris Turner of ING said

The peso fell to its lowest against the dollar in a month, falling about 25% on the day, while the offshore yuan fell 05%

The dollar index rebounded 04%, driven by gains against the yen, which fell 04% and the euro, which lost 05%

Blue-chip stocks in Asia rose fairly broadly, but investors pushed benchmarks out of session highs after Trump’s comments Japan’s Nikkei remained the top performer, up 17% thanks weak yen, while Seoul’s KOSPI rose 08% Chinese and China-sensitive indices were more subdued Shanghai Composite rose 02%, while Australia’s S&P / ASX 200 fell by 01%

T-bill yields fell along the curve, making the 10-year note one of the best-performing assets of the day to date The 10-year note was the last at 0803%, in 7 basis points drop, in its biggest single-day decline in five months

Read more: Morgan Stanley’s Chief US Equities Strategist Canceled Last 2 Market Sales He Now Shares 3 Portfolio Moves to Make As a Recovery Begins

Donald Trump, US Supreme Court

Global news – US – Global stocks lose ground, US futures turn negative after Trump says  » he would ask the Supreme Court to stop counting votes


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