The uncertainty principle has been lifted from markets through yesterday and today as George Bush confirmed his second term in office, according to stock market watchers.
Richard Batley, economist at Schroders, says the fear of a repeat of the courtroom dramas over votes in Florida in 2000 has been lifted with the view that it is not something that will be repeated this time round. ”Market changes will depend on how the story unfolds,” he says. Earlier in the day on Wednesday Batley expected some downward pressure on US markets if there was no additional movement towards the declaration of a winner. Since then, the Dow has gained strongly – up about 150 points in the first few hours of trading New York time Wednesday, as Bush closed in on victory. ...
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