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Senate Majority Leader Mitch McConnell has congratulated President-elect Joe Biden for his victory against outgoing President Donald Trump.

The S&P 500 Index remains stable, marginally up on the day.

The Kentucky senator made his announcement on the upper chamber’s floor, a day after the Electoral College formalized Biden’s victory – already called by the networks on November 7. 

McConnell’s move, as the most senior Republican politician outside the White House, relieves tensions. The focus is on the special runoff elections in Georgia, which determines control of the Senate.