Stocks Drop While Bitcoin and Gold Hit Records Amid Election Uncertainty
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US stocks dropped on Tuesday, pulling further away from record highs as uncertainty over interest rate cuts and tech stock retreats brought wariness.
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Bitcoin reached a new all-time high, briefly topping $68,000 as cryptocurrency prices continue to surge.
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Gold futures hit fresh highs as well on expectations of Fed rate cuts and geopolitical tensions, with spot gold touching $2,141.
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Markets face uncertainty heading into the 2024 presidential election, with potential impacts from policy changes under either a Republican or Democratic sweep.
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Target's CEO said the company is "watching really carefully" how the election may impact consumers, aiming to provide stability amid uncertain times.