Summary
Global stock markets have reversed, with Japan's benchmark Topix index on Aug. 5 suffering its biggest one-day drop in more than three decades.
Key points
- The first, and potentially only, debate between US Democratic presidential candidate, Kamala Harris and her Republican rival, Donald Trump was held on September 10 and was light on policy details.
- Both candidates reiterated some of the pledges they have made before the November 5 presidential election. For Harris, this included outlining her social spending priorities while Trump highlighted his plan to deport millions of undocumented migrants and to hike trade tariffs. However, neither faced detailed challenges on the fiscal or economic consequences of some of their key proposals.
- Foreign policy discussions focused largely on the Russia-Ukraine and the Middle East conflicts without drilling into the details of how the two candidates’ policies would differ. Past comments suggest both sides would take a hawkish stance on China but divergence is likely on how they would approach allies and on issues such as climate change.
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