Election Day: Dow slips as investors de-risk; Apple extends post-earnings slide, Nvidia snaps losing streak; strategists game out scenarios
What happened
U.S. stocks traded mixed on midterm Election Day as investors de-risked ahead of the results: the Dow fell more than 200 points (about 0.5%) while the S&P 500 edged slightly higher and the Nasdaq gained about 0.8% in a tentative relief bounce after Monday's sharp intraday reversal. Apple extended its post-earnings slide, falling 4.5% in premarket trading after warning that rising memory-chip costs will pressure its holiday-quarter gross margin (45–46% guide); shares were set to open at their lowest since September 10. Nvidia climbed nearly 3% premarket, on pace to snap a four-day losing streak at its long-term 200-day moving average, and Microsoft gained nearly 2%. AMD rose 2.8% ahead of its quarterly report due after the bell. The 10-year Treasury yield rose to about 4.91–4.92%. Strategist playbooks: JPMorgan sees the S&P 500 falling about 0.5% Wednesday on a Democratic sweep; Wells Fargo sees a rally if Republicans retain both chambers; Morgan Stanley believes the correction that began in June is in its final stages.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- Apple (AAPL) — extending its post-earnings slide on margin concerns
- Nvidia (NVDA) — bouncing ~3% off its 200-day moving average
- Microsoft (MSFT) — up ~2%
- AMD (AMD) — up 2.8% ahead of earnings after the bell. Blue chips (Dow constituents, financials, healthcare, industrials) bearing the de-risking pressure; tech-heavy Nasdaq catching a tentative relief bid.