PV Business Desk : Asian markets rallied Thursday as Joe Biden inched towards becoming the next US president, with investors now hoping lawmakers will soon pass a much-needed new stimulus package.
Traders brushed off Donald Trump’s claims of fraud and calls to stop vote-counting by calling in lawyers, instead taking heart from the failure of a Democratic sweep of Congress, which would have likely led to tax hikes and regulation.
While crucial battleground states remain close, the former vice president said he was confident that “when the count is finished, we believe we will be the winners”.
All three main indexes on Wall Street surged, with the Nasdaq soaring almost four percent as tech titans including Apple and Facebook breathed a sigh of relief.
“Up until about last week, the consensus belief was a full blue sweep — now that’s changing you’re seeing a repricing taking place in the market,” Anna Han, at Wells Fargo Securities, told Bloomberg TV.
However, Trump earlier claimed victory unilaterally and made clear he would not accept the reported results, issuing unprecedented complaints — unsupported by any evidence — of fraud.