Biden Election Basket Rallies After Trump Nixes Stimulus Talks

Joe Biden speaks during a campaign event in Grand Rapids, Michigan on Oct. 2.
Photographer: Jim Watson/AFP via Getty Images

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By Richard Richtmyer

October 6, 2020 at 8:34 PM UTC

This article is for subscribers only.

President Donald Trump’s sudden halt to stimulus talks coincided with a surge in a group of stocks seen as benefiting the most from a Joe Biden presidency.

The Nomura-Wolfe Biden Election Basket, which bets on potential winners from Democrats taking control in Washington while wagering against losers, jumped to a record high while the S&P 500 Index plunged after Trump said he told his negotiators to stop talks on a fiscal stimulus package.