Wall Street jolts: Nasdaq 100 futures down over 1% as US polls close

The first market verdict is in, and it's red. Nasdaq 100 futures dropped more than 1% as polling places across the US began closing, per @KobeissiLetter. The move landed right as the count got underway, with traders glued to returns instead of headlines.

On the other side of the ledger, the same account reported that market expectations for a Democratic 'sweep' pushed to a fresh high. A sweep means one party claims the White House along with both chambers of Congress — a combination that can redraw the map on taxes, spending and regulation.

Futures trade around the clock, so they act as the market's overnight scoreboard before the cash session opens. That makes the drop an early, and possibly jumpy, read on how investors are pricing the night's returns.

Neither the size of the sweep expectations gauge nor the exact futures level was detailed in the post. Vote counts will keep rolling in through the night, and every update gives traders another reason to hit buy or sell. Expect the tape to stay twitchy.

The takeaway for now: futures are down, sweep bets are up, and nobody has called the race.