US stock futures swung wildly early Wednesday as the prospects of a quick, decisive result to the election faded and President Trump made baseless claims about the vote, leaving investors on edge.
Dow (INDU) futures plunged more than 400 points, or 1.5%, after Trump prematurely claimed victory and said he would go to court to prevent legitimate votes from being counted.
Stocks later pared back losses but remain jumpy in premarket trading. Dow futures were down just 0.1% at 3:30 a.m. ET, while S&P 500 futures rose 0.6%. The Nasdaq Composite, an outlier throughout the night, surged 2.5%.
Uncertainty is the enemy of markets. Investors had hoped that early results would point to a clear winner sooner rather than later, avoiding the nightmare scenario of a contested election.