Investors have been increasingly on edge about the prospect of former President Donald Trump winning the election, a possibility for which Wall Street has been preparing to a greater extent.
While polls remain effectively dead-even, Trump’s prospects have grown since the start of this month in political betting markets.
The tech-heavy Nasdaq Composite led the decline, ending the day down by 1.6%; while the S&P 500 and Dow both fell about 1%.
Recent strong economic data has led traders to question whether the central bank might maintain higher rates for longer than anticipated.
The current market environment suggests continued volatility ahead, said Torres, warning of the potential for further yield curve steepening and increased market turbulence ahead.
Persons:
Donald Trump, Trump, ” Steven Ricchiuto, Kamala Harris, Dow, ”, José Torres, McDonald’s, Kelly Ortberg, Torres
Organizations:
New, New York CNN, Mizuho Securities, Treasury, Nasdaq, Dow, Interactive Brokers, Nvidia, Apple, Boeing, Federal
Locations:
New York, United States