appear wide of the mark so far from early results, leaving investors to ponder the implication for the 2024 race for the White House on top of the expected policy gridlock.showing, with a chance of retaining the Senate, limiting expected losses in the House of Representatives and taking important governors' races. After losing a key seat in Pennsylvania, Republicans must now win two of three Senate races in Georgia, Arizona and Nevada to take control of the chamber.
After a volatile trading session on Wall St on Tuesday, sideswiped in part by the latest implosion in the cryptocurrency universe, U.S. stock futures were in the red ahead of Wednesday's open. The dollar and Treasury yields firmed up. A likely legislative impasse for the next couple of years had already been priced - sapping the dollar but buoying stocks and bonds on the premise no major new fiscal spend would take pressure off inflation and the Federal Reserve. But the resilience of the Democrat vote may now spark a rethink of the 2024 presidential race, not least as former President Donald Trump is expected to announce next week his plan to run again.
Regardless of the poll results, problems in the crypto world deepened amid fears of widespread contagion and selling following the near collapse of a major exchange on Tuesday.
Good. Crypto can die.
Crypto is completely irrelevant to the economy. Nobody cares except those who fell for the Ponzi scheme.
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