Big moves, but no panic after tumultuous US election

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The US election scenario financial markets most feared became a reality in the early hours of Wednesday morning: US president Donald Trump and Democratic challenger Joe Biden were virtually deadlocked in the race for the White House.

The market response was surprisingly sanguine. There were big moves – but none of the predicted chaos.

The S&P 500 gained 3% in morning trading on Wednesday. The Vix index of S&P 500 options volatility – a barometer of fear and uncertainty – shed six points to

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