RE: Joe Biden wins7 Nov 2020 20:40
How will the stock market react to the election results? Investors weigh in...
Markets historically are not particularly affected by which party wins the White House and/or control of Congress, and that seems to be the case again this year, said Michael Townsend, vice president of legislative and regulatory affairs at Charles Schwab in a recent commentary that seems to echo a consensus view.
But Anjelina Belakovskaia, a senior lecturer in finance at the University of Arizona's Eller College of Management, isn't so sure. In a bold pre-election forecast, she predicts the stock market will crash if Joe Biden wins the presidency.
Significant policy shifts possible in part, her bearish view reflects possible new policies for the economy, taxes, health care, green energy, regulations and so on, plus uncertainty over what it all might mean. "If Biden wins, there will be a lot of concerns about how these new policies will affect everything," said Belakovskaia, who cited anxiety over a shift toward socialism.
"There could be a really strong financial impact," she added. "The economy of the future is at stake."
She predicts the stock market could fall at least 5% within days of a Biden victory and possibly drop by 20% to 35% by year-end, taking the Dow Jones Industrial Average down to around 18,000 to 22,000 or so.
Biden not banning fracking? then changes to yes he is going to ban fracking
https://youtu.be/-4_2ynjacFI?t=1