Wall Street focuses on stimulus as US election goes down to the wire

With postal votes still being counted and legal challenges prepared, financial markets will remain unsettled until a result finally emerges from the US election.

So, ignore short-term market volatility. Remember, instead, that quick takes are often wrong.

The initial stock market reaction to Donald Trump’s victory in 2016 was for S&P futures to be 5% limit down even before the market opened the next day, and then a swift cash market sell-off.

The rebound followed within days and lasted for much of the next three years.