A Senate-checked Biden government may cheer markets

US stock market swings look set to continue as investors embrace President-elect Joe Biden's victory, although many remain nervous about the balance of power in Washington and the ongoing spread of Covid-19.

One of the biggest selloffs in the week before the Nov 3 election in the US was followed by the biggest ever gains after the polls were over.

The prospect of a steady hand in the White House alongside a Democratic House of Representatives and a Republican Senate was interpreted as the ideal political backdrop for further economic growth.