European And Global Stocks fall as investors brace for possible ‘blue sweep’ in Georgia

European And Global Stocks fall as investors brace for possible ‘blue sweep’ in Georgia

Global stock prices slipped and bond yields rose on Wednesday as investors braced for the prospect that Democrats could win both races in a U.S. Senate run-off election in Georgia, handing them control of the chamber.

Along with their narrow majority in the House of Representatives, a “blue sweep” of Congress could usher in larger fiscal stimulus and pave the way for President-elect Joe Biden to push through greater corporate regulation and higher taxes. 

While the races were too close to call, with 98% of votes tallied, Democrat Raphael Warnock held a slight lead over incumbent Kelly Loeffler while Democratic challenger Jon Ossoff trailed Republican David Perdue by just 3,600 votes.

“With Biden proposing to reverse President Donald Trump’s tax cut, increase the minimum wage, and strengthen oversight on various industries, some might argue that his agenda is not particularly market-friendly,” said Vasu Menon, investment strategy executive director at OCBC Bank in Singapore.

The pan-European Stoxx 50 climbed down by 0.48%  to 3,547.15. In the cash markets, the DAX futures Germany was trading 0.55%  lower at 13,651.15. CAC 40 futures in France climbed down by 0.44% to 5,564.60, while the FTSE 100 futures in the U.K. rose by 0.61% to 6612.25,at the time of writing.

FTSE 100

European And Global Stocks

About Author

Related posts

Bitcoin prices

Bitcoin’s outlook for the quarter is bright, Miami conference to be majorly influential.

Bitcoin prices are up 0.14% at $46662.51 on early Tuesday trades. In Q1, Bitcoin prices witnessed a bearish trend, closing near its opening for the quarter, declining around 5%. Many analysts believe that Bitcoin is poised to break out and soar after a bout of profit-taking. The second quarter,...

Read More
Top 5 Stock

Top 5 Stock To Watch out Today March 31, 2022

1.MOODY’S:- Moody’s  said on Thursday it has withdrawn all ratings on Russia and its rated Russian sub-sovereign entities. The company said it had decided to withdraw the ratings for its own business reasons. Last week, Moody’s had announced its intention to withdraw its credit ratings on the entities, following similar...

Read More
Top 5 Stock

Top 5 Stock To Watch out Today March 30, 2022

1.UBS:-UBS spent 3.81 billion Swiss francs ($4.10 billion) repurchasing its shares equivalent to 6.49% of its share capital in its 2021 buyback, the Swiss bank said on Wednesday. The cancellation of most of the repurchased shares will be proposed at the bank’s upcoming shareholder meeting on April 6. The...

Read More