TREE NEWS reports: Nasdaq 100 futures extended losses to 2% intraday, while S&P 500 futures dropped 1%. The dollar index weakened, falling more than 0.5% on the day, and US Treasury prices rose. Early vote counts from the US midterm elections showed strong momentum for the Democrats.
Nasdaq 100 futures fall 2% as Democrats gain in midterm early counts
The cross-asset reaction is the real signal here: equities selling off alongside a softer dollar and firmer Treasuries points to risk-off positioning rather than a simple growth scare, with the dollar's slide suggesting markets are already repricing the policy mix a Democratic-leaning outcome could bring. This matters most for rate-sensitive tech exposure and for anyone holding dollar-denominated risk, since the move is happening before results are settled. Whether the bond rally and dollar weakness hold once the count firms up is the open question.
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