Stock markets weaker after chaotic Trump- Biden debate

LONDON - Global stock markets were mostly weaker on Wednesday following a chaotic US presidential debate in which Donald Trump again suggested the election could be fraudulent while hopes for a second coronavirus stimulus package out of Washington helped lift the dollar.

In Europe, London also sank as investors digested official data confirming that Britain's virus-hit economy collapsed by almost a fifth in the second quarter.

Sentiment was additionally hit after Anglo-Dutch energy giant Shell announced plans to axe up to 9, 000 staff over the next two years to combat this year's coronavirus-driven slump in oil prices.

Yet it was Republican Trump's chaotic jousting with Democrat opponent Joe Biden

that grabbed the spotlight.

"The US presidential debate has done little to boost market sentiment, as Trump fails to take his opportunity to regain ground," said Joshua Mahony, senior market analyst at online trading group IG.

"Pollsters point towards a potential Biden gain in the polls... with the president's erratic style likely helping Biden to shift the focus away from his often lacklustre memory and debating abilities." Trump and Biden traded personal barbs in the first of three debates ahead of the November 3 vote, with observers saying the president had needed a strong showing as he trailed in most national and battleground polls.

The much-anticipated match- up, however, descended almost immediately into a shouting match, with little of substance emerging from either man.

When asked if they pledged to urge calm and refrain from declaring victory if the election result is not immediately known, Biden said "yes", while Trump would not commit, saying that if he saw "tens of thousands of ballots being manipulated, I can't go along with that."