Wall Street wary of Biden exit as news of Trump's win continues to rise
The heated debate in Washington over whether President Joe Biden is dropping out of his re-election bid is spilling over to Wall Street, where last week's disastrous debate between Biden and Trump intensified concerns that the 81-year-old Democrat is too old for re-election, Bloomberg reports. The ensuing portfolio recalibration kicked off over the weekend, with traders shifting money into the U.S. dollar, U.S. Treasuries and other assets that could be affected by Trump's return to the White House.
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