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Final Countdown: Key Updates and Things to Know as U.S. Election Nears

  With just three days remaining until the U.S. presidential election, the race between Vice President Kamala Harris and former President Donald Trump is reaching its climax. Both candidates are making their final appeals to voters in key battleground states, aiming to sway undecided voters and solidify their support base. Latest Updates: 1. Polling Data: Recent polls indicate a tight race, with Harris holding a slight edge nationally but Trump leading in several key swing states. 2. Early Voting: Early voting numbers have reached unprecedented levels, with millions of Americans already casting their ballots. 3. Campaign Events: Harris and Trump are hosting dueling rallies in battleground states like Wisconsin and Pennsylvania, making their final pitches to voters. Key Things to Know: 1. Polling Accuracy: Confidence in polling has been shaken by past errors, but efforts are being made to improve accuracy. 3. Candidates' Stances: Harris and Trump have different approaches to key

Tech Stocks Decline Amid “Triple Witching” and Nvidia’s Rebalance


The stock market experienced a pullback as tech stocks faced pressure, and a significant options expiration loomed. Here are the key points:

  1. Tech Under Pressure:

    • Tech stocks, including megacap companies, declined.
    • Nvidia Corp. led the losses in this segment.
  2. Triple Witching:

    • Wall Street faced a quarterly event known as “triple witching.”
    • Derivatives contracts tied to stocks, index options, and futures were set to mature.
    • About $5.5 trillion in contracts were expiring, compelling traders to adjust positions.
  3. Volatility and Vulnerability:

    • Short interest in major equity ETFs hit record lows.
    • Lack of bearish investors signaled vulnerability to negative news.
    • Implied volatility on S&P 500 options remained low.
  4. Nvidia’s Rebalance:

    • Nvidia’s sharp rally prompted the Technology Select Sector SPDR Fund (XLK) to rebalance.
    • Over $10 billion of Nvidia shares were acquired, while Apple’s weight was significantly reduced.
  5. AI Frenzy and Inflows:

    • Nvidia’s AI-related surge made it briefly the world’s most valuable company.
    • Record inflows flowed into tech funds, driven by the ongoing artificial intelligence frenzy.

In summary, tech stocks faced headwinds, and market participants closely watched Nvidia’s earnings and rebalancing dynamics. The landscape remains dynamic, with implications for investors and traders alike.


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