A.M. Update -Trump Promises $5k Dividend If the GOP Wins Midterms; Yields Spike; Stocks Fall

S&P futures are down -0.5% and Nasdaq-100 down -1.25% as yields soar higher after President Trump promised $5,000 for every US adult if Republicans retain Congress, which must be spent in the US and will cost well over $1 trillion. The move signaled mounting concern over affordability and fiscal discipline as voters sour on the…