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Joe Biden gestures after speaking during election night at the Chase Center in Wilmington, Delaware, and President Donald Trump speaks during election night in the East Room of the White House in Washington early Wednesday.
AFP/Getty Images
Former Vice President Joe Biden won Wisconsin on Wednesday as his White House race with Donald Trump stretched into overtime, and the president’s team promised legal challenges.
A day after all polls closed, the presidency and control of the Senate were still hanging in the balance — though Biden had amassed a lead over Trump in Electoral College delegates, 248-214. It takes 270 to win.
In the Senate, Democrats’ path to retaking the majority narrowed when Republican Sen. Susan Collins hung onto her seat after a challenge from Sara Gideon.
Read more in MarketWatch and Barron’s live blog.
U.S. stocks rocketed higher on Wednesday as Wall Street watched the results, with the Dow Jones Industrial Average DJIA, +1.33% on pace for its best post–Election Day rally in 120 years.
Trump, meanwhile, was preparing challenges. His campaign filed a lawsuit in Michigan state court demanding access to locations where ballots are being counted. The campaign wants to review ballots that have already been opened and processed, the Associated Press reported.
Now see: Biden, Trump campaigns could face many court battles before winner is officially declared.
The campaign also said it would ask for a recount in Wisconsin. Trump campaign manager Bill Stepien cited “irregularities in several Wisconsin counties.” And in Pennsylvania, the campaign is suing to stop the vote count over what it called a lack of transparency.
Six states have not yet been called for either candidate by the Associated Press. There are multiple paths to victory for each candidate: If Biden were to win Michigan and Nevada while Trump took the other outstanding races, that would get the Democratic challenger to the bare minimum of 270 electoral votes.
Read: Here’s what we know about the 6 states whose Electoral College votes haven’t been called.
Republicans’ likely keeping of the Senate means “gridlock with the liberal House,” wrote Greg Valliere of AGF Investments in a note. “As a result, market-unfriendly tax hikes could stall in 2021,” said Valliere, the firm’s chief U.S. policy strategist.
Now see: Democratic hopes for taking U.S. Senate dwindle as counting continues.
Victor Reklaitis contributed to this article.
