Tags: Trump Administration | stocks | drop | election | results

Stock Futures Drop, Bonds Up as Presidential Race Tightens

Image: Stock Futures Drop, Bonds Up as Presidential Race Tightens

(AP)

By    |   Tuesday, 08 Nov 2016 09:59 PM

Stock futures dropped more than 400 points as the presidential race turned out to be much closer than expected, CNBC reports.

Stocks have fallen in the days leading up to the election as bad news surfaced about Democrat Hillary Clinton, then rebounded when FBI Director James Comey said Sunday the bureau found no new evidence in her emails to recommend prosecution.

As a Clinton presidency looked more likely, the market was happy, but as the possibility of a Trump win began to look more likely investors shifted their money into bonds. The Mexican peso has fell against the U.S. dollar, CNBC reported.

"I would say the market is a bit more cautious as it doesn't seem to be such a quick and decisive victory for Hillary as it seemed," Ian Lyngen, who heads up U.S. rate strategy at BMO, told CNBC. "But it's not over yet."

"Trump needs to win Florida, but he also needs to win Pennsylvania, North Carolina and New Hampshire. Even if he wins Florida he still has a big hurdle in front of him," Dan Clifton, head of policy research at Strategas, said. "Florida's close, so the question how does he do in … those other states. It's early."

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Politics
Stock futures dropped more than 400 points as the presidential race turned out to be much closer than expected, CNBC reports.
stocks, drop, election, results
203
2016-59-08
Tuesday, 08 Nov 2016 09:59 PM
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