The Dow Jones index rose 2.06 percent to 27,480.03 points. The broader Standard & Poor’s 500 Index rose 1.78 percent to 3,369.16 points. The Nasdaq Technology Market Index rose 1.85 percent to 11,160.57 points.
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In the event of Biden’s victory, the United States will likely approve a larger-scale economic support program than that proposed by Republicans of current President Donald Trump.
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Similarly, major stock markets in Asia and Europe strengthened on Tuesday. Markets have already begun Biden’s victory and want the result “to be clear and unquestionable,” CMC Markets chief analyst Michael Hewson told Reuters.
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The dollar weakened in foreign exchange markets. Investors are turning to riskier assets. The dollar index, which tracks the dollar’s performance against a basket of six major world currencies, fell 0.7 percent to 93.48 points around 22:25 CET. The euro strengthened against the dollar by 0.6 percent to 1.1716 USD.
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