It’s a massive assumption on investors’ parts that the market “can’t fall” before an election. There’s no proof of that. Do politicians “want” an “up” market through an election? Sure. Do they 100% always get it, guaranteed? No. When buyers run out of money or people stop buying by choice, the market can fall on its own weight just do to a lack of buyers. People think politics control the market. They do have their influence. But Trump can’t keep a market up, nor could Obama or any other president.
In fact, the Fed’s actions in markets are more impactful than are presidents (of either party). And the Fed can’t ensure a bull market and the Fed can’t prevent a bear market. History has been clear on that.
By the way, the market is lower right now than it was at yesterday’s lows.