U.S. stocks closed slightly down on Monday in a volatile session as investors prepared for a pivotal week with both the presidential election and a Federal Reserve policy announcement approaching.
Presidential candidates Donald Trump and Kamala Harris raced for final support, with polls showing a close contest. A recent Iowa poll showing Harris ahead led to a dip in the U.S. dollar, Treasury yields, and bitcoin, while Trump Media & Technology Group saw a sharp rebound.
The S&P 500 fell 0.28% to 5,712.69, the Nasdaq lost 0.33% to 18,179.98, and the Dow dropped 0.61% to 41,794.60.
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09:36
"A defeat does not mean we're defeated," US President Joe Biden told disappointed Democrats after Donald Trump's election win. He urged Americans to "bring down the temperature."
14:34
Mexican President Claudia Sheinbaum congratulated Donald Trump on his election victory, calling for dialogue and respect for sovereignty. She expressed confidence in strong U.S.-Mexico relations and reassured the public despite market instability.
13:54
Elon Musk stands to gain from his ties to President-elect Trump, with Tesla shares surging post-election. Trump's policies, including deregulation and tariffs on Chinese imports, could benefit Musk’s businesses, including Tesla and SpaceX.
13:06
Trump's Republicans are set to gain control of Congress, pushing an agenda of tax cuts, border security, and deregulation. However, their plan could add trillions to the national debt, challenging their goal of reducing the $35 trillion deficit.
12:51
Donald Trump secured a sweeping victory in the 2024 election, defeating Vice President Kamala Harris in a polarizing race. Despite facing multiple criminal charges, Trump’s campaign resonated with voters demanding change, positioning him for a return to the White House on January 20.
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