Nasdaq 100 down nearly 5% as midterm sweep odds hit record 72%

The Nasdaq 100 is down nearly 5% on the day. Market-implied odds of a Democrat sweep in next week's midterms surged to a record 72%, up 7 points in two days. Treasury yields are barely lower despite the equity drop. Oil is above $100 and inflation gauges are rising. The Trump Administration has not commented.