While votes in Michigan, Wisconsin, Pennsylvania and Georgia are still being counted, President Donald Trump confidently claimed victory in those states in his speech at the White House just now.
Following Trump's statement, it has led to a major movement in the market which saw a significant drop in 10-year treasury yields to a low of 0.768%, while S & P500 futures declined 0.7% which was also affected by volatile market sentiment.
The dollar index remained strong with an increase of more than 0.5% against most major currencies.
Although Donald Trump is seen winning in several major states, Democrat candidate Joe Biden still expresses his confidence to win this election.
So far, Donald Trump has managed to strengthen his position in Texas, Florida and Ohio, while Biden has managed to win in Minnesota and Arizona.
Biden is currently targeting the states called the ‘Rust Belt’ namely Michigan, Wisconcin and Pennsylvania which have helped Trump win in 2016.
