Election Uncertainty Sparks Market Movements as Swing States Hold Key

In a tight U.S. presidential race, Republican Donald Trump won 14 states while Democrat Kamala Harris claimed four. Critical swing states remain undecided. Financial markets react with fluctuations as analysts anticipate outcomes that significantly impact tax policies and economic strategies.

Republican Donald Trump claimed 14 states in the U.S. presidential election, with Democrat Kamala Harris winning four and Washington, D.C., according to Edison Research. The results remain undecided as battleground states critical to the outcome are yet to report definitive results.

As of 9 p.m. ET, S&P 500 e-mini futures rose 1.1%, while the U.S. dollar index increased by 1.27%. Analysts note that market volatility reflects anticipation and uncertainty over potential political and fiscal outcomes.

Portfolio managers and financial experts point to the importance of Congressional composition in determining economic policy directions post-election, emphasizing that both corporate and individual tax changes could be pivotal in coming months.

(With inputs from agencies.)