But the news immediately spooked investors. Futures tied to the Dow Jones industrial average “indicated an opening loss of more than 400 points, recovering a bit after earlier trading down more than 500 points. S&P 500 futures and Nasdaq 100 futures were also in negative territory,” CNBC’s Eustance Huang and Pippa Stevens report.

The development throws a major unknown into the election at a time when uncertainty over voting and its outcome already has been weighing on investor sentiment. “Market sentiment was already delicately balanced ahead of the November election, and today’s news only adds to the uncertainty,” Karen Ward, chief market strategist for EMEA at J.P. Morgan Asset Management, told Bloomberg’s Yakob Peterseil. But, she said, “with such a wide range of outcomes and implications stemming from the President’s diagnosis, it’s too soon to ascertain what the final market direction will be.”

The market’s record suggests investors quickly absorb and move past history-bending shocks. 

As we wrote here in January, when the market shrugged off threats of a briefly threatened conflict with Iran, “Twenty days after President John F. Kennedy’s assassination, for example, the S&P 500 was up 6.3 percent,” according to data from Strategas technical analyst Todd Sohn. “It was up 9.7 percent after the same interval following the 1987 stock market crash; 5.3 percent after the bombing of the USS Cole; 4.9 percent after the Sept. 11, 2001, terrorist attacks; and 6.4 percent after the Brexit referendum.”

Here’s another look at how quickly the market rallied back from some defining disruptions of the last 80 years, via of LPL Financial:

In this case, in the immediate term at least, the development could prove more vexing, since it injects a host of unknowns not only into the election but the country’s governance as well. Per the

Sales at pub, bar and restaurant chains plunged by more than a third on the same period last year after a 10pm coronavirus curfew was imposed across most of the UK, according to new analysis seen by the Guardian that reveals the extent of the impact on hospitality.



Photograph: Andy Rain/EPA


© Provided by The Guardian
Photograph: Andy Rain/EPA

The first hard figures from the days after the curfew was imposed drew anger from trade bodies and are likely to reinforce calls to reconsider a measure that critics say only drives people to gather elsewhere, while causing significant economic damage.

Takings at 7,000 chain restaurants, pubs and bars were slightly above 2019 levels last Monday, according to the industry analysts CGA, as the UK enjoyed unseasonably warm weather and venues could operate normal opening hours.

Related: Pubs and restaurants urge PM to review 10pm curfew in England

The next day, after Boris Johnson confirmed rumours of an impending 10pm curfew, sales were 8% down, before slumping further during the week as restrictions came into force, first in England and Wales, then followed by Scotland.

By Friday sales were 37% below the total for the corresponding Friday last year. London and Scotland, where many small city centre pubs have remained closed throughout the pandemic, were 47% and 44% behind 2019 respectively. Late-night bars were the worst hit, with sales on Friday two-thirds below the equivalent day of 2019.



a group of people standing on top of a metal fence: A street in Soho in central London just before the 10pm closure deadline on 24 September.


© Photograph: Andy Rain/EPA
A street in Soho in central London just before the 10pm closure deadline on 24 September.

The chief executive of the industry body UKHospitality, Kate Nicholls, said the figures were “in line with what we are hearing”. “At this rate, many of them are going to be out of business pretty soon. This curfew was brought in without justification and it is