As Americans went to the polls on Tuesday and market merchants bided their time ready to know whether or not Capitol Hill is in for an influence shift, US shares fluctuated and Treasury yields paused.

An early rally gathered momentum early within the session however misplaced steam into the afternoon, with the S&P 500 dipping into pink and again once more.

As per Joseph Sroka, chief funding officer at NovaPoint in Atlanta, “the biggest concern around the election is we may not know the results today.”

“There’s some optimism around the potential for a divided government, with the democrats controlling the White House and the republicans potentially ready to take control of one or both chambers of congress,” Sroka added.

“A more conservative fiscal policy which could be enacted by Republican-controlled congress would put less inflationary pressure on the economy and that would make the Fed’s job easier,” he mentioned, including that gridlocks in Washington have traditionally been optimistic for fairness markets.