The first presidential debate between Donald Trump and Joe Biden took place last night. It was an acrimonious, chaotic, and insulting debate.
Presidential Debate: Trump Vs. Biden
The global stock market has become even more concerned following this debate, and investors are largely ignoring all other major fundamentals, such as the worsening coronavirus situation in Europe and strong economic numbers out of China.
The U.S. futures moved higher during the debate as investors saw Joe Biden displaying his strong position against Donald Trump, but the Dow Jones took a complete U-turn after the debate because investors believe that if Trump losses the election, the transition of power is not going to be smooth.
The presidential debate reinforced the market concerns that Trump isn’t going to accept his defeat that easily. This creates the biggest risk for not only the U.S. stock market rally, but we are seeing the global stock market take a nose-dive today.
Stock Market Today
Over in Asia, the stock market closed in negative territory. The Shanghai index declined by 0.20%. The Nikkei stock index also moved lower by 1.50%, while the Korean Kospi soared 0.86%. Hong Kong’s HSI Index increased by 1.02%.
The coronavirus situation continues to deteriorate over in Europe as new cases are surging. The total global number of Covid-19 cases is now