An employee passes share price information displayed on an electronic ticker board inside the London Stock Exchange Group Plc's offices in London, UK. File photo: BLOOMBERG/LUKE MACGREGOR
Control of the US Congress was up for grabs after the elections, with many of the most competitive races uncalled, leaving it unclear whether Republicans would crack the Democrats’ tenuous hold on power. Stock markets have tended to perform better under a split government when a Democrat is in the White House, with investors attributing some of that performance to political gridlock that prevents either side from making major policy changes.
“But looming larger now is the prospect of another battle over raising the US debt ceiling and the prospect for government shutdowns while the Democrats and Republicans argue over it,” he said.
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