S&P Down YTD

[ProfessorGAC]

As of 3:40 EDT, it's down 0.28% for the year. It went down 5.58% since Monday's opening bell.
So, after nearly 10 months, it was only up 5.3% before this week. Investors are gleeful, I'm sure!
The Dow is down 1.12% YTD, 6.97% for the week.
I'm thinking maybe the investors don't believe we've "turned the corner".

[Bernardo de La Paz]

1. Stock market already priced in a Biden win. Current drops are due to no stim & worsening covid . .nt

[ProfessorGAC]

2. Agreed!

Remember that when PINO tested positive the market dipped, but spiked when Biden's test was negative.
The big investors are already counting on a Biden win.

[spooky3]

3. Either that, or all the nervousness around possible cheating,

Courts’ jumping in to take away votes, etc., and the uncertainty resulting from that, has made buyers unwilling to jump in right now. It will be interesting to see how things go in the stock market after the election.

[ProfessorGAC]

4. It's Certainly Fair To Say...

...lack of certainty is something investors hate.
I'm not convinced they're pricing based on judicial action at this point, though.
Most of it is a reaction to the election & COVID on the upswing, I think.
And, there were lots of big bargain hunters when the markets collapsed in March.
People holding growing stocks for 5-9 years got out early in the plunge, bought up bargains, and are profit taking again.
The COVID news is causes jitters everywhere.

[Awsi Dooger]

5. I'm rooting it down this week

Even though it's costing me a bundle

[ProfessorGAC]

6. It's Still Up From 2 Years Ago

So, there's the bright side, I guess.
It'll come back. The lack of a new stimulus & the uncertainty due to the COVID spike are encouraging March's bargain hunters to take 40% in 7 months. If they wrong, the reinvest will get the new gain.
It didn't free fall like it did in March. That's why I think it's mostly maxxing out gains.