That’s a wrap – thank you for reading The Australian Financial Review blog today. Some of our stories included:

• How the Democrats finally ousted Joe Biden: The US president could perhaps have ignored the combined assault of Pelosi, Schumer and Jeffries. But there was one person he could not ignore.
• Biden’s exit sends investors rushing to readjust ‘Trump trades’: Traders have poured into gold and are recalibrating their equities positions as a reset of the US presidential election creates uncertainty in the markets.
• Big donors swing behind Kamala Harris with $41m: The vice president is vetting potential running mates as she secures support from major Democratic Party funders.
• Biden’s 50 years defined by triumph, tragedy and a reluctant exit: He will go down in history as a one-term president, the final chapter of his career marked by his failure to put to rest persistent concerns about his mental acuity and physical strength.