Market Frenzy: U.S. Election Results Impact Stocks and Dollar

U.S. stock futures and the dollar rose in Asia as early election results showed a tight presidential race. Treasury yields climbed, with some markets favoring Trump's economic policies over Harris'. Global markets responded with cautious optimism, reflected in treasuries, equities, and currency movements.

U.S. stock futures and the dollar gained ground in Asian markets Wednesday, reacting to the tight race hinted by early U.S. presidential election results. Investors remained jittery, unsure of the final outcome as the polls closed in several states.

Republican Donald Trump secured wins in Indiana and Kentucky, while Democrat Kamala Harris won Vermont, according to Edison Research. Treasury yields increased as some betting platforms leaned towards Trump, although futures markets remained confident that the Federal Reserve will announce a 25 basis point rate cut on Thursday.

The markets are under pressure, with expectations that Trump's proposed economic measures would drive inflation and bond yields higher compared to Harris' policies. Meanwhile, fluctuations were seen across various indices and currency markets, with the dollar bolstering its position against major currencies and China's currency specifically reacting to tariff concerns.

(With inputs from agencies.)