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Investors turn cautious after first presidential debate

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Markets are mostly in the red this morning after the first presidential debate provoked a cautious reaction. A somewhat disorderly affair has US futures signalling they will open 0.50.7 lower. Neither candidate convincingly came out on top implying the election will still be hotly contested, leaving an air of uncertainty for investors. A Trump win is viewed as meaning a continuation of lower corporate income taxes, reduced regulation and more relaxed Covid19 restrictions. A Biden victory would mean an end to Trumps unpredictable messaging and policies, potentially more favourable relations with China, and higher taxes to fund increased government spending.