Stock markets struggle as Biden-Trump debate moves into focus | Malay Mail

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HONG KONG, Sept 29 — Equity markets mostly fell today as investors struggled to extend a global rally as they weighed a fresh US stimulus proposal from the Democrats while looking ahead to the first presidential debate later in the day. Bargain-buying and upbeat economic news from China provided...

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After months of shadow boxing, President Donald Trump and Democratic challenger Joe Biden will finally meet on the debate stage. — AFP pic

A major hindrance to further upside is the lack of movement on Capitol Hill in stimulus talks, with both sides digging in and making the chances of a new package unlikely before the November 3 presidential election. However, with Republicans offering to go only as high as US$1 trillion — and hostilities exacerbated by the row over a replacement for Supreme Court judge Ruth Bader Ginsberg — hopes for a breakthrough are thin, despite millions of Americans struggling to cope with the economic impact of the virus.

But while Biden continues to lead in polls, AxiCorp’s Stephen Innes said: “Prediction markets show that Joe Biden’s lead over Trump has narrowed from +24 in late July to +10-6, depending on which cohorts you follow. The moves are raising concerns that the tentative recovery from the near-global shutdown earlier in the year could be derailed.

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