Wall Street slips as uncertainty surrounds U.S. election

U.S. stocks closed slightly lower after a choppy session on Monday, as investors prepared for a crucial week in which Americans will elect a new president and the Federal Reserve will announce its policy statement.

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 (DJT.O), opens new tab 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.

 

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