2020 Election Results and Vote Count
Joe Biden won the 2020 presidential election with 306 electoral votes to Donald Trump's 232, according to the latest certified results from state election boards and the Federal Election Commission. Trump received approximately 74.2 million votes, the most ever for a sitting president at the time, while Biden received about 81.3 million votes. The certified results were confirmed by the Electoral College on December 14, 2020, and Congress counted the electoral votes on January 7, 2021. Multiple recounts and legal challenges in key states like Georgia, Pennsylvania, and Wisconsin did not change the outcome, as documented by court rulings and state certification records FEC.
Turnout rates reached historic levels, with the United States Election Project estimating over 158 million votes cast, representing about 66.8% of the eligible voting population. Mail-in and early voting surged due to the COVID-19 pandemic, with states expanding access to ballot drop boxes and absentee voting. The final certified results showed Biden flipping Arizona, Georgia, Michigan, Pennsylvania, and Wisconsin, while Trump retained Florida, Texas, Ohio, and other Republican strongholds. The certification process was completed by January 20, 2021, when Biden was inaugurated as the 46th President of the United States National Archives.
Financial Markets and Economic Indicators
The S&P 500 index closed at approximately 3,756 on Election Day, November 3, 2020, reflecting uncertainty about the outcome. In the weeks following the election, markets rallied as vaccine distribution began, with the S&P 500 reaching new highs by early 2021. The Federal Reserve maintained near-zero interest rates throughout the transition period, supporting a rapid recovery in equity prices and bond markets. Treasury yields on the 10-year note rose from around 0.77% on Election Day to over 1.74% by January 2021, signaling expectations for fiscal stimulus and economic reopening Forbes.
Unemployment claims dropped from a peak of 23 million in April 2020 to around 10 million by November 2020, though the labor market remained below pre-pandemic levels. The CARES Act and subsequent stimulus packages provided direct payments to individuals and expanded unemployment benefits, boosting consumer spending. Corporate earnings rebounded sharply in the third and fourth quarters of 2020, with S&P 500 companies reporting year-over-year profit growth despite the pandemic's impact. The transition period saw increased scrutiny of financial regulations, with the incoming administration signaling plans for stricter oversight of Wall Street and fintech companies SEC.
Post-Election Legal Challenges and Certification
Trump's campaign filed numerous lawsuits in states including Georgia, Michigan, Pennsylvania, and Wisconsin, alleging irregularities and demanding recounts or audits. Courts across the country dismissed over 60 cases due to lack of evidence, with judges appointed by both parties rejecting claims of widespread fraud. The Cybersecurity and Infrastructure Security Agency (CISA) called the 2020 election the most secure in American history, stating there was no evidence of compromised voting systems CISA.
The Electoral Count Act governed the formal certification process, with Vice President Mike Pence presiding over the joint session of Congress on January 6, 2021. Objections from lawmakers were raised but failed to gain majority support in both the House and Senate.