The Fed is draining liquidity from markets for longer than expected. Here’s why it’s making Wall Street nervous.

U.S. stock futures were heading higher early Monday, building on the record highs reached last week. Dow Jones Industrial Average futures added 50 points, or 0.1%. S&P 500 futures were gaining 0.2% and Nasdaq 100 futures increased 0.

The stock market reaction Wednesday to Republican Donald Trump's victory over Democrat Kamala Harris was swift and powerful, sending the Dow, the S&P 500 and the Nasdaq to all-time highs. The Fed rate cut the next day was icing on the cake for market bulls,