Stock market today: Dow leads stocks lower as Wall Street braces for Election Day
Published On Nov 4, 2024, 4:06 PM
US stocks experienced a decline as investors prepared for the upcoming presidential election and a Federal Reserve policy meeting. The S&P 500 dropped by 0.3%, and the Dow Jones fell by 0.6%. The uncertainty surrounding the elections created volatility in the market, particularly as polls indicated a tight race between President Kamala Harris and Donald Trump. The Fed's expected interest rate cut later this week also adds to the market's uncertainty. Additionally, oil prices surged nearly 3% after OPEC+ decided to delay production increases. Energy stocks outperformed, while tech stocks experienced fluctuations, with Nvidia slightly higher in anticipation of entering the Dow. Market analysts predict that depending on the election results, various sectors might perform differently, with cyclicals and consumer equities likely to react to potential administrations.