Investors have been disappointed by the initially mixed voting results fearing that it would not be easy to get 2nd economic package to repair the economy.
Republican President Donald Trump was in lead in the battleground state of Florida. Other crucial states such as Georgia and North Carolina results yet to come which will decide who will be the next president.
The chief market strategist at Trust/SunTrust Advisory in Atlanta, Keith Lerner said that we are getting very close results than expected and we may not have clear results till the end of tonight.
The mix results will also be going to dent U.S. stock market. Markets were expecting a fiscal relief to recover the economy from the current pandemic which already has killed 230,000 Americans. Analysts are more optimistic to get the package from the clear win of Biden and Democrats. But the markets are also reversing previous day as polls so far are unable to predict a winner.
Democrats got the first seat in the Senate after defeating Republican Senator Cory Gardnein Colorado. According to investors, a clear win is good for the market to get stable otherwise a close contest will push the markets into negativity.
The president of Maglan Capital in New York, David Tawil said that his biggest fear is that we may not have a president due to close results. He further said that like other investors he is hopeful to have an undisputed winner and he is praying for it because any other outcome will be catastrophic for the markets.