“What we’re seeing today is people setting up for Election Night: raising cash to preserve capital, lock in capital gains at a lower rate, and to have some cash available for the growing eventuality of lower prices,” said Robert Phipps, director at Per Stirling Capital Management in Austin, Texas.
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.was down 2.1% and bond yields slipped.
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.
Biden still leads in national opinion polls by 7.9 percentage points, though Trump has increased his standing in battleground states Georgia and Michigan, according to polling aggregator RealClearPolitics.
Trump sucks.
Wrong
There's nothing rocky about it. Donald Trump will have 4 more years. Deal with it libs!
A rocky stock market you say? Man, I've got no idea what that feels like...
People must be shitting themselves Biden’s Socialism will wreck the already fragile US economy.
A fall is inevitable.
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