Hillary Clinton’s near 8-point lead over Donald Trump has been all but eviscerated as FBI Director James Comey announced that the agency is once again reviewing emails sent on Clinton’s private server when she served as secretary of state. The contentious emails came into question during the agency’s investigation into Anthony Weiner, the estranged husband of Clinton’s long-time aide Huma Abedin, who is currently being investigated for inappropriate sexual conduct with minors. The concern that Trump could triumph or that Clinton could be elected despite the investigation has unsettled traders and has wiped out not only Clinton’s gains, but Wall Street’s Friday gains as well, with all three major exchanges ending lower before the weekend.
The Mexican peso which has recently been a benchmark for Clinton’s popularity, weakened in both Friday and Monday’s sessions, trading at 18.9615 on Monday, a loss of more than one percent since the FBI’s announcement. The dollar remained stable against the yen on Monday, trading at 104.76 in early trading, up 3.3 percent for the month. The euro slumped 0.2 percent to $1.09655 after a near one percent rise on Friday. The euro is set to end October with at least a 2 percent loss.
Despite concerns over next week’s U.S. election, there are several events that may also impact markets this week, including central bank policy meetings in Japan and Australia on Tuesday and a U.S. Federal Reserve announcement on Wednesday. Friday’s non-farm payroll report may also weigh on the markets in advance of the election.