Presidential debate: A combo picture showing Biden (left) and Trump who will face off in the first of three scheduled debates tomorrow. — AFP
NEW YORK: Some US stocks could face more volatility this week as President Donald Trump and rival Joe Biden face off in their first debate ahead of a November election that betting services currently view as almost a coin flip. A strong performance in tomorrow’s debate by Biden, who currently has a modest lead in betting odds and polls, might boost stocks related to global trade and renewable energy, while a perceived debate victory by Trump could benefit fossil fuel and defence companies.
The first of three scheduled debates comes at a fraught moment on Wall Street. The S&P 500 has tumbled 10% from record highs in recent weeks as investors worry about a prolonged recovery from the coronavirus and uncertainty related to the Nov 3 vote, including the possibility of a delay in announcing a winner.
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