Bank of America Global Investment Strategist Michael Hartnett stated in a report published on October 8 that the US midterm elections on November 3 are the biggest potential catalyst for a ±10% fluctuation in global equities before the end of the year. Current market forecasts show that the probability of a Democratic sweep of both chambers has risen to 64%. If this scenario materializes, US equities could face more than a 10% downside risk. The BofA Bull & Bear Indicator dropped from 8.8 to 8.1, maintaining its "sell" signal.