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The morning after, there’s no clear winner yet, and no Blue Wave either

David Meyer – fortune.com

Good morning. David Meyer here in Berlin, filling in for Alan.

And the winner of the U.S. election is…far from clear. At the time of writing, Joe Biden had secured 238 of the 270 Electoral College votes he would need to claim the presidency, and Trump had 213. That’s according to the Associated Press. Amid huge turnout, both sides have scored more raw votes than they got in the last election.

This much can be said for sure: there was no Blue Wave. Although the Democrats have notably flipped Arizona, they cannot claim an overall landslide even if they win. As things stand, it seems unlikely that they will flip the Senate, and at the time of writing they were even several seats down in the House.

So the outcome of the election looks uncertain—not just because it’s a close race, but also because President Trump is claiming electoral fraud, with no evidence. Trump said in the early hours of this morning that he had won, and would go to the Supreme Court because “we want all voting to stop.”

“We don’t want them to find any ballots at four o’clock in the morning and add them to the list,” the president said, despite the fact that it is commonplace for the count to continue for days after the election. Republicans such as Chris Christie and Rick Santorum have decried Trump’s comments, while Biden’s campaign called them “a naked effort to take away the democratic rights of American citizens.”

U.S. stock futures fell immediately after Trump’s press conference, before rebounding, then starting to head south again. So buckle up: volatility is the order of the day.

Here are some other outcomes from yesterday’s voting:

  • A huge win for “gig economy” outfits such as Uber and DoorDash, as the Proposition 22 ballot initiative passed in California, allowing such companies to continue classifying their workers as independent contractors.
  • However, Proposition 23 fell—Californian voters said no to imposing new regulatory requirements on kidney dialysis clinics, in a victory for clinic operators and a loss for organized labor.
  • Floridians voted to increase their state’s minimum wage from $8.56 to $15 by 2026.
  • Recreational weed is about to become legal in Arizona, New Jersey, South Dakota, and Montana. Medical marijuana use will become legal in Mississippi for people with debilitating conditions.
  • Mississippi’s flag will lose the Confederate banner and gain a magnolia.

Non-election-related news below—yes, other things are happening in the world too.

David Meyer
@superglaze

david.meyer@fortune.com

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