[The Epoch Times, 10 novembre 2022](Compiled and reported by The Epoch Times reporter Takasugi) After the recent demonstration,WE.stock marketThere was a sharp drop after the market opened on Wednesday (9th November). The reason ismid-term electionsAfter the vote, there was no “republican victory” that was previously expected.red tide“The tide is overwhelming and who will control Congress in the future has yet to be defined.
The Dow Jones Industrial Average fell 503 points, or about 1.5%, during the session. Disney led the decline, with shares down more than 11%. Previously, the entertainment giant’s results disappointed analysts’ expectations. The S&P 500 Index fell 1.6% and the Nasdaq Composite slipped 2.1%.
In Wednesday afternoon trading,stock marketit fell to an intraday low. Bitcoin prices have fallen to their lowest levels in the past two years, weighing on the overall risk sentiment and dragging the tech sector lower.
to existmid-term electionsthe day before,WE.Shares rose for a third consecutive day as Wall Street expected Republicans to gain a clear advantage and block Democrats’ plans for future tax and spending hikes.
But on Wednesday it is unclear which party will control Congress after the vote. The mainstream media have not made a definitive estimate of the control of the House of Representatives. Some election evaluations suggest that Republicans could win 221 seats. If so, it would be a situation where the Republican Party has a narrow majority in Congress.
In a key race that could lead to control of the United States Senate, Democrat John Fetterman defeated Republican Mehmet Oz in the race for the Pennsylvania Senate seat. According to Georgia Secretary of State Brad Raffensperger, Democratic Senator Raphael Warnock and Republican and former NFL player Herschel Walker. Between the senatorial elections, there will be a second ballot on 6 December. Key Senate elections in Nevada are also pending.
Dennis DeBusschere, EvercoreISI’s senior chief executive, wrote in Wednesday’s report: “The outcome of the election remains uncertain, but it is clear that the” red wave “predicted by forecasting models, investors and the gaming market is not. In the short term, this would add further volatility to an already high volatility. “
Investors are also deeply concerned about the future direction of inflation ahead of the October Consumer Price Index (CPI) report at 8:30 am ET on Thursday (Nov 10). Economists interviewed by the Dow Jones had expected the leading consumer price index to rise 7.9% from the previous year, down slightly from the 8.2% increase in September.
Johan Grahn, vice president and chief of ETF strategy at AllianzIM, commented: “Inflation is the Fed’s number one enemy and if we see an increase in core CPI numbers, I believe the market will react to that. One point showed a negative reaction “.
Responsible editor: Li Yuan #
