Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
On this day 19 years ago, Republican candidate George W. Bush defeated Democrat Al Gore in what became one of the most drawn-out presidential elections to date.
Florida is once again in the headlines due to tight election results in 2018, with incumbent Democratic Sen. Bill Nelson calling for a recount after a razor-thin race that saw Republican Rick Scott edging out Nelson, 50.2% to 49.8%.
Where The Market Was
The Dow Jones Industrial Average traded at around 10,787.99 and the S&P 500 traded around 1,378.04.
What Else Was Going On In The World?
Also in 2000, the Drug Enforcement Administration discovered one of the biggest LSD labs in the country. The discovery occurred within a converted military missile silo in Kansas.
Electoral College Vs. Popular Vote
The 2000 presidential election became the fourth in which the winning candidate lost the popular vote.
Bush received 271 electoral votes versus Gore’s 266, but totalled roughly 500,000 fewer votes overall.
On election night in 2000, Florida’s electoral votes were still undecided and triggered a mandated recount, given the incredibly small margin. Following weeks of legal battles, a 5-4 Florida Supreme Court decision ended the recount.
Bush won Florida by a narrow margin of 537 votes, or 0.009%. The election led to extensive discussions surrounding the country's voting technology and electoral college system that continue to this day.
Public domain photo via Wikimedia.