Dow Futures Drop 400 Points As Race Tightens
Markets tumbled Tuesday night as Donald Trump showed strength in crucial battleground states.
Futures for the Dow Jones industrial average lost 446 points, or 2.4 percent, in pre-market trading. The Nasdaq lost 134 points, or 2.8 percent. The S&P 500 was down 64 points or 3 percent.
Gold futures, where investors often turn during times of fear in the market, were up 2.7 percent.
Markets rallied earlier in the day as investors predicted a victory for Hillary Clinton.
“If the balance of power in Washington adheres to the status quo, then stocks could benefit from a classic Santa Claus rally,” Jeremy Klein, chief market strategist at FBN Securities, told CNBC earlier Tuesday.
Stocks were bullish also on Monday after FBI Director James B. Comey cleared Clinton of criminal wrongdoing in the handling of her private email server while she served as secretary of state. The Dow when trading resumed on Monday jumped 200 points.
Investors are also closely watching Senate races as Democrats look to take a majority. The party has promised increased regulation of Wall Street during the election cycle and finance hawks like Sen. Elizabeth Warren (D-Mass.) could be emboldened by a new majority.
Futures for the Dow Jones industrial average lost 446 points, or 2.4 percent, in pre-market trading. The Nasdaq lost 134 points, or 2.8 percent. The S&P 500 was down 64 points or 3 percent.
Gold futures, where investors often turn during times of fear in the market, were up 2.7 percent.
Markets rallied earlier in the day as investors predicted a victory for Hillary Clinton.
“If the balance of power in Washington adheres to the status quo, then stocks could benefit from a classic Santa Claus rally,” Jeremy Klein, chief market strategist at FBN Securities, told CNBC earlier Tuesday.
Stocks were bullish also on Monday after FBI Director James B. Comey cleared Clinton of criminal wrongdoing in the handling of her private email server while she served as secretary of state. The Dow when trading resumed on Monday jumped 200 points.
Investors are also closely watching Senate races as Democrats look to take a majority. The party has promised increased regulation of Wall Street during the election cycle and finance hawks like Sen. Elizabeth Warren (D-Mass.) could be emboldened by a new majority.
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