Election tensions grip markets as Japan’s Nikkei closes at 29-year high – business live

Rolling coverage of the latest economic and financial news

10.36am GMT

The oil price has also dropped today.

Brent crude, the global benchmark, is down 2.5% at $39.89 per barrel – moving back towards the four-month lows seen at the end of October.

Oil is down due to lingering election uncertainty, and continued worries about spiking coronavirus infections in the US and Europe weigh on sentiment.

10.10am GMT

European stock markets are dropping a little lower now, with the UK’s FTSE 100 now down 43 points or 0.7% today (but still up strongly since Monday).

Firstly, the results of the presidential election are yet to be finalised and are likely to be disputed. Secondly, there is a real risk that a divided Congress will argue for too long about a new relief package that has already been delayed since July.

Continue reading…Rolling coverage of the latest economic and financial newsIntroduction: Markets still gripped by US electionReuters: Nikkei closes at 29-year highUS election live: Biden and Trump virtually tied in Georgia as Pennsylvania tightens 10.36am GMTThe oil price has also dropped today.Brent crude, the global benchmark, is down 2.5% at $39.89 per barrel – moving back towards the four-month lows seen at the end of October.Oil is down due to lingering election uncertainty, and continued worries about spiking coronavirus infections in the US and Europe weigh on sentiment. 10.10am GMTEuropean stock markets are dropping a little lower now, with the UK’s FTSE 100 now down 43 points or 0.7% today (but still up strongly since Monday). Related: US election live: Biden edges ahead of Trump in Georgia as Pennsylvania race tightens Firstly, the results of the presidential election are yet to be finalised and are likely to be disputed. Secondly, there is a real risk that a divided Congress will argue for too long about a new relief package that has already been delayed since July. Continue reading…