The home stretch of the U.S. presidential race is usually a positive one for U.S. stocks, but bulls will have to dig themselves out of a hole following Monday’s tumble in order to score a win in the eight-day runup to Election Day.
The two declines came in 1988 , ahead of George H.W. Bush’s victory over Democratic nominee Michael Dukakis, and 1968 ahead of Richard Nixon’s victory over Democratic nominee Hubert Humphrey. Investors across asset classes, meanwhile, were until recently jittery about Election Day, with options markets reflecting the fear of increased volatility in the days and weeks after Nov. 3 in the event of an unclear or contested election outcome.
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