Global Markets: Americans head to the polls

By MarketsFarm

WINNIPEG, Nov. 3 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

It’s election day in the United States, and Americans are casting ballots for president, members of Congress, and other local races. According to a survey by CNN, Edison Research, and Catalist, over 100 million ballots were cast before election day. Polls suggest the Democratic nominee Joe Biden is favoured to win, though a second term for President Trump is also possible. Biden needs to glean 38 electoral votes on top of the 232 won by former Secretary of State Hillary Clinton in 2016.

A trade war is brewing between China and Australia, with the former banning imports of numerous Australian commodities. Following blacklisted barley from weeks earlier, the banned commodities include coal, copper, sugar, timber, wine, and lobster. The bans notably do not include iron ore or natural gas.

Russia has reported more than 18,000 daily COVID-19 cases for five consecutive days- a new record for the country. Russia has the fourth-highest COVID-19 caseload in the world, with cases totalling 1.6 million and deaths nearing 30,000. Authorities have resisted implementing lockdown restrictions, despite reports of a stressed medical system.

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