How are global markets reacting to President Biden's decision to drop his re-election

bid?

This is the Marketplace Morning Report and we're coming to you live from the BBC World Service.

I'm Leanna Byrne and a very good morning to you. A lot has happened since we last spoke.

Joe Biden has announced he's leaving the presidential race and Vice President

Kamala Harris has secured the backing of some of the Democrats biggest donors.

So what are investors thinking?

The BBC Sean Farrington has been keeping his ear to the ground.

Hi Sean.

Hi Sean.

Sean, any market reaction to this? Well there's been a lot of chatter about what people are watching now.

Overnight in Asia there hasn't been so much of a reaction in the markets but that word

uncertainty coming up quite a bit amongst investors.

What does it mean now that there's not a confirmation yet of who the Democrat nominee is going to be?

Had some investors saying to me maybe expect to see some

disagreement amongst investors about what happens next and of course disagreement

is what makes a market so with that they may actually see an increase in volumes over the course of today as people

on both sides of a debate take a view investment-wise over who they think the nominee might be,

what that means for policy in the US longer

term, but actually not too much of a change in view on policy with a change in

democratic nominee because they don't think that will make too much of difference Democrat-wise of course it would make a difference if they thought a certain

nominee had more chance of getting in than another. Another investor

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