Possible scenario

State Moratoria Spread

25%its chance, of the story’s futures

−0.6%on the S&P 500, if it happens

State and local officials interpret the midterm voter data as permission to slow controversial projects. The immediate impact is most severe in Northern Virginia, Phoenix-area suburbs, Georgia, and parts of Texas where power and water constraints are already political issues.

What it moves

Technology−1.1%
Finance−0.4%
Utilities−0.4%
Non-Energy Materials−0.3%

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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