Following the recent debate between US Republican Donald Trump and Democratic Vice President Kamala Harris, investors are adjusting their positions as betting markets indicate a shift in favor of Harris. As a result, shares of Trump Media & Technology Group, Bitcoin, and crypto stocks have fallen, while solar stocks and healthcare shares have rallied.
Although the debate did not provide many new details on key market issues such as tariffs, taxes, and regulation, online prediction markets have shown increased odds of a Harris victory in November. This has led to a perception shift among investors, with some believing that Harris emerged as the winner of the debate.
Amid concerns over the US economy and uncertainty surrounding Federal Reserve interest rate decisions, the S&P 500 experienced its worst weekly percentage loss since March 2023. However, some investors believe that even a small shift in perceptions of the candidates could have a significant impact on the election, which is expected to be closely contested.
The debate also had a noticeable impact on various market sectors, with stocks of companies related to Trump, cryptocurrency, and immigration policies experiencing declines, while solar stocks and healthcare shares saw gains. Investors are closely monitoring the candidates’ policies, with Trump advocating for lower taxes and tariffs, while Harris has proposed raising corporate taxes.
Overall, the debate has introduced a new dynamic to the presidential race, with market sentiment adjusting to the changing political landscape. As the election approaches, investors will continue to closely monitor the candidates’ positions and the potential implications for various sectors of the market.
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Photo credit www.aljazeera.com
