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US presidential polls get underway

Global stocks jump, dollar down


Wednesday, 4 November 2020


Americans began casting ballots on Tuesday in an Election Day unlike any other, braving the threat of COVID-19 and the potential for violence and intimidation after one of the most polarizing presidential races in US history, report agencies.
In and around polling places across the country, reminders of a 2020 election year shaped by the pandemic, civil unrest and bruising political partisanship greeted voters, although more than 90 million ballots have been already submitted in an unprecedented wave of early voting.
Many wore masks to the polls - either by choice or by official mandate - with the coronavirus outbreak raging in many parts of the country.
Americans headed to the polls to choose either incumbent Donald Trump or challenger Joe Biden as their next president, after a tumultuous four years under the businessman-turned-politician that have left the country as deeply divided as at any time in recent history.
Biden, the Democratic former vice president and a career politician, has had a strong and consistent lead in national polls.
But the Republican Trump is close in enough swing states to possibly piece together the 270 state-by-state Electoral College votes needed to hold on to the presidency, which he won in a surprise 2016 election result despite losing the popular vote to Democrat Hillary Clinton by nearly 3 million ballots.
However, it may be days before the result is known, especially if legal challenges focused on postal ballots are accepted in the event of a tight race.
There is also fear about possible unrest. Several cities are boarding up buildings in anticipation of possible protests, including around the White House and in New York City.
Polls opened in some Eastern states at 6 a.m. EST (1100 GMT). The most closely watched results will start to trickle in after 7 p.m. EST (2400 GMT) when polls close in states such as Georgia, though definitive national results could take days if the contest is tight.
AFP adds: Global stock markets jumped and the dollar weakened Tuesday as polls opened for the US election, with Republican President Donald Trump seeking to defy forecasts and defeat Democrat challenger Joe Biden.
Asian, European and US equities rallied, with traders betting on a Democratic sweep of both the White House and Congress that would likely herald a huge new economic stimulus package to fight the coronavirus crisis.
The dollar slid against the euro and pound, while oil prices jumped higher, clawing back some of their recent losses.
"The markets tempted fate on Tuesday, forgetting the lessons of 2016 as they preemptively celebrated a Joe Biden victory," said Spreadex analyst Connor Campbell, referring to Trump's surprise victory over Hillary Clinton four years ago.
"Choosing to ignore the slim -- but not slim enough -- likelihood of Trump winning a second term, the markets continued to aggressively rebound," Campbell said.