Volatility Grips U.S. Stock Futures With Vote Outcome Uncertain

Extreme election night volatility persisted in U.S. equity futures, with S&P 500 contracts swinging between gains and losses, as investors worked to price in shifting odds for Donald Trump’s re-election and control of the Senate, a potentially protracted vote count and the implications for economic stimulus.

December contracts on the benchmark equity gauge swung from a gain of 2.1% to a loss of 1.3%, only to bounce back to a 0.6% advance by 06:50 a.m. in New York. Futures on the Nasdaq 100 Index, a defensive trade all year, were up 2.4%. The dollar was also on a roller-coaster ride, surging as much as 1% before erasing most of its gains, and Treasury yields slumped, with the 10-year benchmark down to 0.79%.