Business
Wall Street surges higher on election day, $A jumps – Sydney Morning Herald
Stocks are rallying as Election Day finally arrives following a punishing campaign that created enough uncertainty to help send markets spinning.
The Australian dollar jumped more than 1 per cent as the US dollar fell on the notion a Joe Biden victory would weaken the greenback. At 5.48am AEDT, the Aussie is fetching 71.54 US cents.
What investors fear is the prospect of a contested election, one that drags on and injects even more uncertainty into markets. Much of Wall Street expects a sharp drop in stocks to happen in such a scenario. The future political makeup of the Senate is also another unknown factor throwing uncertainty into the…
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