Trump VS Biden

Pandemic leaps as a hot topic in US Presidential debates

U.S final presidential debates officially ended today morning in Nashville, with the short synopsis of discussions over the stock market, the economy and most significantly the pandemic. The discussion raised issues on tackling the global pandemic and other issues of foreign policy, energy and climate change.

In a relatively civil debate, the Coronavirus dominated the opening minutes of the Trump-Biden face off as they call it. With democratic presidential nominee Biden undermining Trump for neglecting to handle the situation prominently. However, Trump made the case that the country needs to operate as normally as possible while continuing to fight the virus rejecting the idea of lockdown, remarking that “the cure cannot be worse than the problem itself” and since Biden hasn’t ruled out lockdown, the impact of restrictive measures will not be in the favor of global financial markets.

Meanwhile distorted accusations of corruption from Trump to Biden took the debate to a turn, but the wide-ranging debate-maintained focus on key topics on of which is the stock market, with Trump speaking to investors directly to an extent, signifying that the stock market would boom if he’s re-elected and the stock market would crash if Biden gets elected.

Biden stood at high grounds for American sovereignty defying countries that try to interfere in the U.S elections, simultaneously his democratic rule would create better ties between the US and China, and investors across global financial markets have been getting comfortable with this idea however his determination to handle the pandemic with stronger measures will leave global financial markets in disarray. The impact of the markets comes from the policies both administrations are so aggressively tackling.

Global stocks digested the debate pretty well, European stocks opened mixed but slightly nudged higher, Germany’s DAX gained 0.9% and Britain’s FTSE gained 1%. US equities shook off a wobbly start to end higher and the Nasdaq composite added 0.2%. The market move was to some extent indifferent and investors are seemingly cautiously trading till the election’s day on November the 3rd.

Written by Nadia Amr, ATFX (CY) Dubai Rep Office Market Analyst.

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