Global stock markets witnessed an upswing on Monday owing to investors’ confidence that Democratic nominee Hillary Clinton will win the United States election. The surge in the markets took place after the Federal Bureau of Investigation cleared Clinton in the case involving her use of a private email server, The Guardian reported.
The three main US indices – Dow Jones, S&P 500 Index and NASDAQ Composite – closed more than 2% higher on Monday, the dollar gained 1% against the pound and oil prices went up by more than 1%. US crude oil soared 1.1% to $44.57/barrel, and gold prices fell by 1.5% to $1,285 an ounce.
Fears that Republican candidate Donald Trump might win the election had led to the US markets to close lower in the past nine days in the longest losing streak in more than 35 years. The downward surge in the markets were triggered by the FBI’s decision on October 28 to re-investigate the private email server case.
Asian markets also traded higher, while the BSE Sensex was up 26.38 points at 27,485.37 on Tuesday. The Nifty index was also up 9.55 points, or 0.11%, to 8,506.60, Mint reported.
Polls on Monday showed Clinton with a lead over Trump. While an ABC News/Washington Post poll put the Democratic nominee on 47% compared and Trump on 43%, a Reuters/Ipsos poll said Clinton had 90% chance of defeating Trump.
The Dow Jones Industrial Average jumped 371 points by the time the markets closed on Monday – 2.1% higher at 18,260 points. The S&P 500 went up by 2.22% to 2,132 and the Nasdaq raced 2.37% higher to 5,166.17.
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