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Stock Market Continues To Slide

Tuesday, November 1, 2016 16:59
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The stock market continued its slide:

“Wall Street seems to be calling a win for Donald Trump.

The S&P 500 has fallen 2.2 per cent over the last three months. Historically, a decline in stock prices has forecast a win for the challenger candidate.

The index has called it correctly in seven of the eight past elections, so the fall in stock prices is a bad omen for Hillary Clinton, Sam Stovall, chief investment strategist at CFRA, told CNBC.

‘Going back to World War II, the S&P 500 performance between July 31 and October 31 has accurately predicted a challenger victory 86 percent of the time when the stock market performance has been negative,’ he said.

This July the final day of Wall Street trading was Friday July 29. …”

It fell again today:

“NEW YORK — Stocks tumbled Tuesday, with the S&P 500 posting its sixth straight loss as nervous investors continued to monitor the run-up to the 2016 election and wait for news from the Federal Reserve, which concludes a two-day policy meeting on Wednesday.

The Dow Jones industrial average ended down 105 points, or 0.6%. The Standard & Poor’s 500 index fell 0.7% and the Nasdaq composite dropped 0.7%. …”

Longest slide in a year:

“Aside from the three-month interval, the S&P 500 fell Tuesday by the most in three weeks, slipping for a sixth day to 2,111.72, making its first foray below 2,100 since July 7 before rebounding. The gauge is in its longest slide since August 2015 amid polls showing the race for the White House is tightening. The CBOE Volatility Index surged Tuesday by 9 percent to the highest since June 27 …”

What’s up with that?


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