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Dow futures drop 700 points as U.S. presidential race tightens

Xinhua Financein NEW YORK
2016-11-09 12:58

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Dow futures tumbled more than 700 points on Tuesday night as the U.S. presidential election remained much tighter than expected, with Republican candidate Donald Trump showing strength in crucial battleground states.

Futures for the Dow Jones industrial average lost 723.00 points, or 3.95 percent, in pre-market trading.

The Nasdaq lost 223.50 points, or 4.65 percent. The S&P 500 was down 99.00 points or 4.64 percent.

U.S. stocks had been increasing for two sessions on Tuesday, with both the S&P 500 and the Nasdaq Composite Index snapping a nine-day losing streak after the FBI again cleared Democratic presidential nominee Hillary Clinton over her use of a private email server.

Financial markets around the world had been pricing in a victory for Democratic nominee Hillary Clinton over her Republican counterpart, Donald Trump, according to the CNBC.

Investors in general view a Clinton win as the better outcome in the election, as it presents fewer unknowns and possibly more stability for markets than a victory for Donald Trump.

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