Gold and stocks rally after US midterms, greenback dips: Key takeaways for Singapore investors
The Straits Times · Timothy Goh ·
Gold prices rose and Wall Street stocks rallied but the US dollar dipped after the Democrats swept both chambers of Congress. Read more at straitstimes.com.
SINGAPORE – Gold prices rose and Wall Street stocks rallied on Nov 4, but the US dollar dipped after the Democratic Party swept both chambers of Congress in the US midterm elections, as investors assessed what a political gridlock in America could mean for the global economy.
A Democratic-controlled Congress could restrict US President Donald Trump’s plans for further fiscal stimulus, potentially slowing economic growth and reducing the need for additional interest rate hikes by the US Federal Reserve, experts said.
Some told The Straits Times that the market’s reaction reflects expectations of slower US fiscal spending, easing inflationary pressures and reduced political uncertainty.
Read the full story at The Straits Times · All coverage of this story