Asian, European and US stock markets plunged into the red on the back of the ongoing counting of the US congressional election results. Although a landslide triumph for the Republicans was expected, the Democrats are fighting to maintain their majority in the Senate.
Will the congressional elections affect the world market?
The US Congressional elections are likely to be very close. Not only are the markets waiting for the announcement of the official results, but from the votes counted so far, it seems that the Republicans will only win a majority in the House of Representatives, and only a slight one at that. The Democrats are likely to win a majority in the Senate.
Markets heading into the red
Investors, however, do not like the ongoing uncertainty and stock markets in Asia, Europe and the United States headed into the red. The indices of the major world stock exchanges fell mostly in the range of 0.5 to 1.5 percent during Wednesday’s trading. The most sensitive to the US congressional elections are technology titles, which lost slightly more than the main segments of the stock markets.
Oil was also cheaper on Wednesday, by around 1.7 percent. A barrel of Brent crude was trading at just under $94, a barrel of WTI crude slightly below $90.
