US stocks are spiking on Monday, the day before the US presidential election.
After declining for nine days in a row, the S&P 500 is trading higher by more than 1.5%, at 2,117, as of 9:50 a.m. ET. Both the Dow Jones Industrial Average and the Nasdaq were up by around 1.5%, as well.
The move comes the day after the FBI announced it had concluded its probe into new emails found as part of its investigation of Democratic presidential candidate Hillary Clinton’s use of a private email server while she was secretary of state.
“Based on our review, we have not changed our conclusions that we expressed in July with respect to Secretary Clinton,” FBI Director James Comey wrote in a letter to Congress on Sunday.
Many analysts cited the heightened uncertainty following the announcement that the investigation was being reopened as the cause of the multiday decline in stocks.
The US Treasury market is also seeing a large move with the 10-year bond yield moving up by just over 3.5 basis points and the five-year gaining 4.1 basis points - to near 1.82% and 1.28%, respectively.
Additionally, the US dollar index is stronger by roughly 0.5%.
This follows higher trading in overseas stocks in both Europe and Asia overnight.
