S&P 500: Slump to Rebound

S&P 500 futures fell between 1% and 2.5% as preliminary results from the midterm elections emerged and political uncertainty mounted. They then pared their losses and turned higher, gaining about 80 points, or 1.1%. The index opened at 7,655.43, up 1.14%, before rising to 7,695.28, a gain of 1.67% from the previous close, as bond yields fell and political concerns eased. It had thus swung from a sharp early-hours decline to a rebound, leaving it about 1.9% below its 52-week high of 7,844.52.

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