Stocks Sharply Lower As Political Gridlock Sets In

Stocks sold off today, falling victim to the likelihood of a political gridlock in Washington D.C. The Dow shed 646 points -- its worst single-session drop since Oct. 7 -- and snapped a three-day win streak in the process. Wall Street anxiously awaits the results of Senate races in Georgia, Arizona, and Nevada, while also weighing big moves from the likes of Walt Disney (DIS) and Meta Platforms (META). Also of note, Bitcoin (BTC) is sharply lower today, last seen down 14% at $16,090. 

The Dow Jones Industrial Average (DJI - 32,513.94) shed 646.89 points or 2% for the day. Merck (MRK) was the Dow's only winner today, adding 0.09%. DIS paced the laggards with a 13.2% gap lower. 

The S&P 500 Index (SPX - 3,748.57) lost 79.5 points or 2.1% for the day. The Nasdaq Composite Index (IXIC - 10,353.18) gave back 263 points or 2.5% for the session.

Lastly, the Cboe Volatility Index (VIX - 26.09) added 0.6 points or 2.2% for the session.






Oil prices fell for the third-straight day, taking their cues from an unexpected rise in U.S. domestic crude supplies. December-dated crude shed $3.08, or 3.5% to trade at $85.83 per barrel.

Gold prices took a breather today, but did nab a one-month intraday high in the process. December-dated gold added $2.30, or 0.1%, to settle at $1,713.70 an ounce.

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