US stocks plunge amid midterm election turmoil! Wall Street's bullish forecasts proven wrong; selling pressure may be hard to shake off in the short term.

Zhitong Finance APP has learned that for several weeks, major Wall Street trading institutions have been saying that after the U.S. midterm elections, the stock market rally will resume. Trading desks at JPMorgan, Citadel Securities, and UBS Securities had all previously said that the midterm elections would be a "clear the decks" event for the market, helping to ease market unease before the elections. These trading desks believe that because a large amount of capital remains on the sidelines, investors will tend to rebuild equity positions.