September 11, 2024
Trump vs Harris debate – What we’ve learned
The debate also addressed significant international conflicts, including the wars in Ukraine and Gaza, which remain contentious globally and divide not only the U.S. but also the international community. Trump mentioned the risk of the Ukrainian conflict escalating into a nuclear confrontation, given that Russia possesses the largest nuclear arsenal and has threatened its use in response to perceived attacks on its sovereignty. Meanwhile, Democrats emphasize the importance of supporting Ukraine as long as Russia occupies its territories.
Another pressing issue for U.S. citizens is the ongoing crisis at the Southern border, as an influx of migrants from Latin America strains resources in border regions. Additionally, the topic of abortion, particularly late-term terminations, was discussed, with Republicans advocating for states to independently determine their laws on the matter, in contrast to the Democratic preference for federal oversight.
The debate was heated, resulting in slight market movements. U.S. stocks dipped, and the dollar edged lower in the early morning Asian market. Stock futures declined marginally by 0.5% and 0.65% for the S&P 500 and Nasdaq 100, respectively. Bond yields also fell slightly, as the prospect of a U.S. Federal Reserve rate hike seems increasingly likely.
In South Africa, the market showed a muted response to the debate, with the JSE All Share Index only slightly down by 0.56% since the morning trade. The exchange rate moved down by 4 cents due to dollar weakness early in the morning and is gradually returning to the R17.92/$ mark seen prior to the Trump vs. Harris debate.