After days on tenterhooks, investors now have clarity about the next occupant of the White House and will start planning for the presidency of Joe Biden.
On Saturday, Biden was projected the winner by the Associated Press. The 77-year-old Democrat beat Trump in Pennsylvania and other key states, propelling him to victory over incumbent President Donald Trump.
The projections for victory for the former vice president come amid the heavy toll of the COVID-19 pandemic that had framed much of the race.
Here’s what the changing political landscape means for investors across Wall Street.
Regardless of the victory in the 2020 elections, analysts said a declared winner and thus less election uncertainty paves the way for even higher U.S. stock prices, even with the President Trump’s campaign, as recently as Saturday morning, stating his intent to challenge the election results in several battleground states.
Also, many investors had