According to Bloomberg, volatility in technology earnings wiped out a month of gains for stocks, ending a synchronized rally in stocks and bonds. The market is fraught with risks, including a deadlock in the presidential election.
The Cboe Volatility Index rose as investors grew concerned about risk assets. The presidential race between Trump and Harris has added to economic uncertainty, with election polls showing the two in a close race.
The U.S. economy grew strongly in the third quarter, but investors remain cautious about the economy's health in the coming months. The S&P 500 has risen 5% since the beginning of August, but expectations of a Trump victory are also showing up in the stock market.