“U.S. Election Day Sees Stock Markets Rise, Dollar Weakens Amid Global Market Reactions”
Major stock markets saw gains Tuesday as the U.S. headed to the polls in a close presidential race, while the dollar remained under pressure. In Asia, Shanghai and Hong Kong markets rose over 2%, bolstered by optimism for China’s economic outlook. European stocks showed modest gains, as investors awaited key interest rate decisions from the U.S. Federal Reserve and Bank of England.
“A contested election outcome could spark market volatility, whereas a quick, clear result might bring investor relief,” said Russ Mould, investment director at AJ Bell. Analysts anticipate a Trump win could strengthen the dollar due to his tax and tariff policies, while a Harris victory might bring stability.
Meanwhile, Hong Kong and Shanghai’s strong performance was buoyed by data showing China’s services sector growth and hopes for a new economic stimulus. In other sectors, oil prices rose modestly after production cuts were extended, and striking Boeing workers agreed to a new contract.
Key index movements as of 10:30 GMT:
- London FTSE 100: +0.3% at 8,204.82
- Paris CAC 40: +0.1% at 7,377.88
- Frankfurt DAX: +0.1% at 19,170.66
