Americans might be on edge during election night, but the tech-heavy NASDAQ-100 was apparently loving it. Tech futures soared on "better than expected" news for President Trump early in the night, The Spectator Index reported. Around 10:15 p.m. ET, NASDAQ futures were halted for two minutes following a 3.9 percent rally:
Bloomberg's Kriti Gupta offered a little more context: "A note on the bid for tech stocks — these are cash-rich, liquid, global growth companies," she wrote. "They are essentially the creme de la creme of U.S. large cap stocks and therefore have acted as a global haven during the panic earlier this year. … But make no mistake — seeing NASDAQ futures outperform DOW or S&P 500 futures shows a defensive trade taking hold in the market."
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