US stock market braces for rocky week ahead of contentious US election

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 59 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Wall Street faces a rocky run-up to Election Day, with mounting worries about the outcome in Washington adding to nerves about the coronavirus ...

NEW YORK: Wall Street faces a rocky run-up to Election Day, with mounting worries about the outcome in Washington adding to nerves about the coronavirus pandemic and fading chances of stimulus.

Investors have been betting on a win by Democratic challenger Joe Biden by buying alternative energy shares and cannabis stocks, which are expected to benefit from his policy proposals. Bond yields have climbed, partly in anticipation of greater stimulus under a Biden administration. Before Monday, investors appeared to be dialing back on election-related volatility bets on the expectation of a clean win. As stocks fell, however, VIX futures rose along with the volatility index.Now market watchers worry that an unexpected victory by President Donald Trump, a Republican, or an uncertain election outcome could force drastic unwinding of positions similar to what occurred in 2016, when investors were overwhelmingly positioned for a Hillary Clinton presidency.

A surprise victory by Trump could lead to a post-election jump similar to that in 2016 https://www.reuters.com/article/us-usa-stocks/wall-street-surges-after-trump-wins-white-house-idUSKBN1332TA, when a rally in drugmakers and financial companies helped reverse deep overnight losses and pushed the S&P 500 up more than 1per cent, the start of a surge through the end of the year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore stocks open lower, tracking Wall Street tumble; STI down 0.4%SINGAPORE shares opened lower on Tuesday, tracking sharp losses on Wall Street overnight. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Examining the impact of the US election on investment portfoliosWith barely a week to go before the vote, financial markets are already feverishly positioning themselves for the outcome.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »