Biden set to address nation after Trump’s decisive U.S. election win

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Biden set to address nation after Trump’s decisive U.S. election win
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Trump’s campaign said President Joe Biden had invited him to a meeting at the White House at an unspecified time

U.S. President Joe Biden was set to address the nation on Thursday after a stinging election defeat for his Democratic Party at the hands of Republican Donald Trump, whose stunning political comeback has reverberated around the world.

Hispanics, traditionally Democratic voters, and lower-income households hit hardest by inflation helped fuel the victory. Harris’ campaign had sought to press the message that Trump was unfit to serve again as president, as a convicted felon and one whose false claims of voting fraud after his 2020 election defeat spurred a mob to storm the U.S. Capitol.

U.S. stocks rallied to close at record highs on Wednesday after Trump’s victory, with investors expecting lower taxes, deregulation and a U.S. president who is not shy to weigh in on everything from the stock market to the dollar, although fresh tariffs could bring challenges in the form of a higher deficit and inflation.

JPMorgan Chase CEO Jamie Dimon and billionaire hedge fund manager John Paulson were seen as possible new entrants to his administration, while former Trump officials Robert O’Brien and Mike Pompeo could return to office. However, a source said on Wednesday that Dimon would remain at the bank and had no plans to join Trump’s administration.

Chinese President Xi Jinping sent Trump a congratulatory message and said he hopes the two powers will co-exist peacefully and achieve win-win co-operation, China’s state-run Xinhua news agency reported.

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