Categories: Market Overview

Vote counts push Biden closer to victory as Trump falsely claims election being ‘stolen’

With his re-election chances fading as more votes are counted in a handful of battleground states, U.S. President Donald Trump launched an extraordinary assault on the country’s democratic process from the White House on Thursday, falsely claiming the election was being “stolen” from him.

Offering no evidence, Trump lambasted election workers and alleged fraud in the states where results from a dwindling set of uncounted votes are pushing Democrat Joe Biden nearer to victory.

“This is a case where they’re trying to steal an election,” Trump said, who spoke for about 15 minutes in the White House briefing room before leaving without taking questions.

Biden, the former vice president, was steadily eating away the Republican incumbent’s leads in Pennsylvania and Georgia even as he maintained narrow advantages in Nevada and Arizona, moving closer to securing the 270 votes in the state-by-state Electoral College that determines the winner.

In Pennsylvania, Trump’s lead had shrunk from 319,000 on Wednesday afternoon to around 50,000 by Thursday night, while his margin in Georgia fell from 68,000 to 2,500. Those numbers were expected to continue to move in Biden’s favor, with many of the outstanding ballots from areas that typically vote Democratic, including the cities of Philadelphia and Atlanta.

Biden, meanwhile, saw his lead in Arizona contract from 93,000 to around 48,000; he was ahead in Nevada by only 11,000 votes.

Biden would become the next president by winning Pennsylvania, or by winning two out of the trio of Georgia, Nevada and Arizona. Trump’s likeliest path appeared narrower – he needed to hang onto Pennsylvania and Georgia while overtaking Biden in either Nevada or Arizona.

Most major television networks gave Biden a 253 to 214 lead in Electoral College votes, which are largely determined by state population, after he captured the crucial states of Wisconsin and Michigan on Wednesday.

As demonstrators marched in several U.S. cities for a second straight day, the election lay in the hands of civil employees who were methodically counting hundreds of thousands of ballots, many of which were sent by mail amid the coronavirus pandemic.

Final results in each state could take days. Pennsylvania Secretary of State Kathy Boockvar said on Thursday afternoon the state still had about 350,000 ballots yet to count but expected the vast majority to be tallied by Friday.

Vote counts push Biden closer to victory as Trump falsely claims election being ‘stolen’, Reuters, Nov 6

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

Hang Seng meltdown

The Hang Seng Index has fallen 20% from its peak, marking the start of a…

33 mins ago

SP500 quiet correction

The S&P500 reached the 6000 mark but faced resistance due to fatigue and dollar appreciation.…

52 mins ago

The third day of Crypto cooling off

The crypto market has continued to cool down for the third day, with a 1.7%…

3 hours ago

GBPUSD Wave Analysis 14 November 2024

- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…

18 hours ago

USDCAD Wave Analysis 14 November 2024

- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…

18 hours ago

The dollar has reached range limits

The US dollar has strengthened, reaching the upper boundary of its trading range. The British…

20 hours ago

This website uses cookies