Most may not remember, but when Trump elected in 2016, the immediate action was SP futures dropped the limit, & DOW futures declined about 800 points.
SP futures were locked limit down I think at least a few hours, but rallied during the night, & then higher.
This time, it is far less certain, either up or down, as both Trump & Biden have made all kinds of promises to buy votes.
The mkt has been declining assuming Biden will drop out, so tomorrow could be a toss-up.
But polls will fluctuate, & mkts react to every change.
But bottom line: both parties will massively increase the debt, which will not be good for anybody.