Trump sends a lot of downward trades

The hoped-for “blue wave” in the US presidential election did not take place. Instead, the outcome isn’t clear, and it’s a neck race between Biden and reigning Republican Donald Trump. In this environment, safe values ​​are sought.

The fact that Trump speaks of “fraud” in view of the delay in the election result is worrying investors around the world. Trump announced he would go to the US Supreme Court to stop another vote count. Investors now expect more fluctuations.

Pharmaceutical stocks will benefit from the close run for the US presidency on Wednesday. On the one hand, they take advantage of their defensive nature in the uncertain environment of the stock market. On the other hand, investors were expecting less headwind for the industry under a further Trump presidency than challenger Biden.

The Swiss Market Index (SMI) is currently up 1.6 percent to 10,162 points. It owes this in particular to its pharmaceutical heavyweights Roche (+ 3.2%) and Novartis (+ 3.5%).

The local stock market therefore occupies a special position. In Frankfurt am Main, the leading Dax index lost 0.2% and the euro area Eurostoxx 50 by 0.5%.

On the other hand, the financial stocks sought the previous day plummeted significantly. Credit Suisse lost 1.0% and UBS 0.9%. “At the moment, many prefer to stay on the sidelines,” market participants explained.

Investors also seek refuge in safe government bonds from countries such as Switzerland, Germany and the United States. Oil prices, on the other hand, have given up their earnings.

The US dollar has also gained popularity. The greenback against the Swiss franc is currently 0.9160 Swiss francs. It rose more than half a cent from Asian-influenced trade. The euro is quoted at 1.0690 francs.

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