US shares rise as Congress confirms Biden, shrugging off chaos on Capitol Hill

Last night, instead of celebrating victory in the Georgia Senate runoffs, Democrats, including Maltese-Americans Representative Darrin Camilleri of Michigan and incoming Transport Secretary Pete Buttigieg, were decrying what many, including Republican Senate Majority Leader Mitch McConnel, characterise as “insurrection”.

In what Rep Camilleri described as a “dark day” that left him feeling “infuriated, sad, and scared”, supporters of outgoing President Trump stormed the US Capitol Building on Tuesday afternoon as the process to confirm Mr Biden’s victory took place within.

This is one of the dark days of our nation's history.

A group of fascists and domestic terrorists stormed our nation's capitol to attempt to overturn the will of the American people in our Presidential Election.

I'm infuriated, sad, and scared, but not at all surprised.
— Darrin Camilleri (@darrincamilleri) January 6, 2021

Politicians from both sides of the aisle condemned the attack and blamed Trump’s divisive rhetoric for sparking the riot. Pete Buttigieg characterised the riot as an attempt to “overthrow the American democratic process” and suggested the riot was a consequence of the words of the president his allies.

Words have consequences, especially the words of a president and his allies. Today those consequences include violent rioters attacking our Capitol to overthrow the American democratic process. This must end, and democracy must prevail.
— Pete Buttigieg (@PeteButtigieg) January 6, 2021

Despite the delay as the confirmation process was interrupted by the storming of the Capitol building, Congress on Wednesday morning certified Joe Biden as president. This comes as a flurry of high level White House officials resign.

Posted by VOA Studio 7 on Wednesday, 6 January 2021

Trump supporters clash with police

American markets were slightly up at close despite disturbances, including S&P 500 (+0.6 per cent) and the Dow Jones (+1.44 per cent).

Prime Minister Robert Abela tweeted this morning to show his support for the American democratic process, saying he was sure it would prevail.

#USA 🇺🇸 must ensure a peaceful & smooth transition of power so that the will of the people is respected – I'm sure that #USA institutions & their system of checks & balances will show their resilience – RA
— Robert Abela (@RobertAbela_MT) January 7, 2021

Mr Biden is due to take office on Wednesday, 20th January.

Written by

Solomon Cefai

Solomon has an interest in financial markets and innovative business practices. He also loves literature and music. As such, you might find him on the seafront with a cold Kinnie, his trusty headphones, and a good book.

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