Barack Obama re-election turns focus to budget clash

7 November 2012 Last updated at 06:37 ET Help

A looming clash over US budget measures is now set to become the focus of investors' attention following the re-election of Barack Obama.

President Obama needs to secure a deal with the US Congress to avoid the so-called "fiscal cliff".

This refers to the $600bn (£375bn) of tax rises and spending cuts that are due to hit the US economy in January.

Ben Thompson reports.

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