It is still unclear whether the Democrats or Republicans will win control of Congress. Right now, the Republicans seem likely to win the majority in the House of Representatives, but with a much smaller margin than expected.

The final composition of the Senate now hangs on three seats: Arizona and Nevada, where the counting of votes could still take several days, and Georgia, where a second round is scheduled for December 6. This uncertainty is weighing on markets.

In other news, industry tracker Fundscape said the value of customer assets on British investment platforms has dropped by more than 100 billion pounds this year, as investors move to cash due to the current economic conditions with higher interest rates.

Miners and oil companies are among the worst performing stocks today, hampered by losses in commodity prices.

Meanwhile, shares of AstraZeneca rose 1.5% after it raised its full-year earnings guidance.

Investors are eagerly awaiting the US consumer prices data, due this afternoon, to get more clues about the Fed’s future monetary policy.

 

Things to read today:

Time to open up UK Bond markets to give investors more options (Financial Times)

JPMorgan Team Say Crypto Markets Face “Cascade” of Margin Calls (Bloomberg)

Frustrated Republicans Try to Explain Lack of Midterm “Red Wave” (WSJ)