Election Day selloff: Nasdaq futures sink 1.9% as traders bet on a blue sweep

Stock futures are bleeding on Election Day. The S&P 500 is down 0.9%, the Dow Jones is off 0.5%, and the Nasdaq 100 is taking the hardest hit at negative 1.9%.

That Nasdaq slide has pushed the index to its lowest level since July 26, according to a running tally posted by @KobeissiLetter on X. The tech-heavy gauge is leading the retreat, while the blue-chip Dow is holding up comparatively better.

Elsewhere, crude oil is down 1.0% and gold is up 0.7% — the classic haven bid showing up on a nervous day. The split tells the story: investors trimming risk in stocks and energy while parking money in bullion.

The political read comes with it. According to @KobeissiLetter, markets are pricing in a near-certain Democrat sweep, with traders positioning for one party to take the White House and both chambers of Congress.

Election Day sessions have a reputation for thin volume and jittery tape, and this one is delivering on both. Every number above is a futures move, not a closing print, so the picture can shift fast as ballots come in.

The four-year one-day selloff: maybe not. But the Nasdaq 100 chart is now at a level it hasn't touched in more than three months.