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World economy holds its breath as US goes to the polls

By Margaret Canning

It's been the most bitterly fought and contentious US presidential election in living memory. And as Americans go to the polls today to cast their vote for Hillary Clinton or Donald Trump, the world economy will be on a knife-edge.

The markets have been favouring Democratic candidate Clinton as a relatively safe pair of hands. Yesterday, Britain's blue chip stocks surged, gaining £28bn after she was given the all-clear by the FBI over her handling of classified information.

The dollar also strengthened, while sterling was down nearly 1% against the greenback at $1.240 and flat against the euro at 0.2% or 1.123. Across Europe, the French Cac 40 and German Dax both closed higher by around 1.9%.

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