Yeah this is all about European and US COVID cases spiking. Newsmax is as biased as The Atlantic, Vox, Buzzfeed, Slate and the other rags.
Covid-19 is not killing anywhere near the rate that it did earlier this year. It's not even close. The market is tanking because Wall Street believes Creepy Joe is going to win the election. IF/when Senile Joey wins it will crater into a big giant hole and it might never come back. To further prove my point, IF Trump wins the market will go back up.
Wall Street is not "worried" about Joe Biden - they've bought and paid for him. And Joe knows how to take care of his financial overlords - just ask the credit card companies. Hell, look at who will be running the Treasury for Biden (Jamie Dimon-JPMChase). And Wall Street is very good at shorting stocks, btw.
Trend following has not worked since 1985. We have to be more intelligent than this. If enough people believe a news then the price will go a certain direction. Most of these interpretations are so dumb I find them entertaining at least Once in a while they can be useful articles.
Hell, it seemed like half the executive appointments during the Obama term went to Goldman Sachs alumni - why would a Biden term be any different? A former GS executive just gave $100K to Biden - one of many GS Biden contributors. Thus far, Wall Street has given Biden $50M +++ compared to $10M to Trump. And yes, they will get a return on their investment. Always do.
Selloffs are never politics. Selloffs and bull markets are about trading or investing. Never mix trading with politics...it never comes out well