Wall Street slips as uncertainty surrounds U.S. election
Presidential candidates Donald Trump and Kamala Harris both scrambled for an edge in the last full day of a race that polls show as extremely close. It could take days to determine the victor.
Some of the so-called «Trump trades» unwound after a recent poll showed Harris, the Democratic vice president, leading in Iowa, sparking a drop in the U.S. dollar, Treasury yields and bitcoin. Trump Media & Technology Group closed up 12.37%, bouncing back from early losses of nearly 6%.
In light of the Iowa poll, Harris' odds against the Republican former president improved on several betting sites, which many market participants eye as election indicators.
«Since we're going to take until Thursday or so, at least, to figure out who won, unfortunately this is going to be a pretty volatile week,» said Sam Stovall, chief investment strategist at CFRA Research in New York.
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