Bitcoin Price Rebounds Above $77K as Democrats Sweep U.S. Midterms, What's Next?
- Decision Desk HQ reported that Democrats secured control of both the House and Senate following yesterday's US midterm elections, marking a significant shift in congressional power.
- Political gridlock is expected to limit major partisan legislation, with global market strategist David Chao of Invesco Asset Management noting the Democratic takeover makes it harder for the White House to pass significant new laws.
- Bitcoin slipped as much as 2.8% on concern that a Democratic sweep could stall industry-backed legislation and bring tougher scrutiny of digital-asset firms, while the MSCI Asia Pacific Index declined 1%.
- Democrat James Talarico projected to defeat Republican Ken Paxton in Texas's contested Senate race, becoming the first Democrat to win a statewide election there in roughly three decades.
- Bond yields fell across the curve as five-year Treasury note yields dropped to 4.68%, with gridlock expected to ease concerns about the US fiscal trajectory and the nation's approximately $40 trillion debt load.
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35 Articles
Democrats' sweeping victory in Congress upsets investment balances – Strong losses in Asian stock markets, shift to US bonds and rally in green energy stocks
We read the business news and check the stock prices from the morning. Here is your complete Business overview.
The Asian Bags recover from the minimums marked in the night while the outcome of the American elections, concluded with an overwhelming victory of the Democrats both in the House and in the Senate, reverberates its effects on the markets. (ANSA)
Svenska Dagbladet
SydsvenskanStock markets are falling and the dollar is sinking on the currency market after it looks like the Democrats have won the mid-term elections in the US – both in the Senate and the House of Representatives. There are sharp price drops among technology stocks in Asia and this points downward in futures trading on Wall Street ahead of Wednesday's stock market opening there.
Stocks Slide With Dollar as Trump Trades Falter: Markets Wrap
(Bloomberg) -- A projected Democratic sweep of both houses of Congress rippled across global markets, sending stocks and the dollar lower while boosting Treasuries, on speculation the result will put the brakes on President Donald Trump’s agenda.
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