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Global Markets: Democrats winning runoff in Georgia

By MarketsFarm

WINNIPEG, Jan. 6 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– United States Democrats were on the cusp of winning both Georgia runoff races Wednesday morning, overcoming the two Republican incumbents and taking control of the country’s Senate. Democrat Raphael Warnock, a pastor at the same Atlanta church where Martin Luther King Jr. preached, defeated Republican Kelly Loeffler, to become the first Black senator for the state. In the other race, Democrat Jon Ossoff was leading incumbent David Perdue early Wednesday, but the results were still too close to officially call.

– Bitcoin moved to a fresh all-time high on Wednesday, climbing above US$35,000 for the first time ever. The cryptocurrency has seen some wild price swings over the past week, dropping 17 per cent on Monday before resuming the rally of the past few months.

– Julian Assange was denied bail in the United Kingdom on Wednesday, as the judge ruled the Wikileaks founder was a flight risk. The same judge ruled earlier in the week that he could not be extradited to the U.S. due to concerns he may commit suicide. Assange has been held in a British prison since 2019 after spending seven years in the Ecuadorian Embassy. He faces charges in the U.S. of disclosing classified information and hacking.

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