Stock-index futures fell sharply in after-hours trading as early indicators pointed to wins for Democrats.
Futures linked to the tech-heavy Nasdaq were down by nearly two percent at 10 p.m. S&P 500 futures were down by 1.15 percent. Dow futures dropped by around eight-tenths of a percent.
Stock markets around the world also appeared to be reacting to the early vote tallies. Japan’s Nikkei fell by 3.5 percent and Korea’s Kospi index tumbled three percent.
Tech stocks were particularly under pressure on Tuesday night. Investors appear to be wary that Democrat victories could advance policies aimed at stymying super-intelligence investment and data center build-outs.
Government bonds rallied, often a sign that investors are becoming more concerned about the possibility of an economic downturn. The 10-year Treasury yield fell 0.05 percentage points to 4.90 percent. Yields on two-year Treasuries fell 0.064 percentage points to 4.55 percent.
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