“Dow slides by 200 points at the open as control of Congress remains unclear”
November 9, 2022
“…The Dow Jones Industrial Average fell 270 points, or about 0.8%. The S&P 500 shed 0.9%, and the Nasdaq Composite slid 1.2%.
Stocks are coming off three-straight days of gains into the election, where Wall Street was expecting Republicans to gain ground and block any future tax and spending plans. The Dow climbed 333 points on Tuesday for its third-straight session of gaining more than 1%.
But control of Congress was not clear. NBC News was not yet projecting control of the House of Representatives with an NBC estimate suggesting Republicans could win 220 seats, which would be a narrow majority…”
Remember me saying its possible to time the market? Well if there’s gridlock in congress stocks will jump. Weather or not its a temporary is a different story. For short term investors look at the election results. If wall street gets what they expect stocks will go up. If not stocks will go down. It’s that simple.