A fractious U.S. presidential debate on Tuesday night has done little to ease market worries that the results of the Nov. 3 election will be contested or uncertain, options markets showed. Futures on the Cboe Volatility Index, known as "Wall Street's fear gauge," continue to show investors bracing for market gyrations in the weeks after the election, with elevated prices for November and December contracts. The pricing reflects concerns that a greater-than-usual number of mail-in ballots could mean delays of weeks in certifying election results and that a close outcome could be contested.
Wall Street closed higher on Wednesday on the back of a second round of fiscal stimulus hope.
Wall Street closed lower on Tuesday as investors remained concern about renewed spike in coronavirus infections in the United States and Europe.