A surge in support for Joe Biden ahead of November’s US presidential election is forcing Wall Street analysts to consider the potential market impact of the former vice-president winning the top job.

Support for Mr Biden has surged over the past month, following criticism of President Trump over his handling of coronavirus and his response to Black Lives Matter protests. On Thursday betting markets put the former Senator for Delaware’s chances of winning the election at over 59 per cent, near a record high touched earlier in the week and 23 percentage points clear of Mr Trump, according to averages compiled by RealClear Politics.

Predictions among investors have also shifted. A Citigroup poll of 140 fund managers released this week found that 62 per cent believed Mr Biden would triumph — a reversal from December, when 70 per cent of investors surveyed by the bank predicted victory for Mr Trump. Some analysts think Mr Biden’s Democratic party could even secure a majority in both chambers of Congress.