, which covers the four weeks after the election, than in October shows heightened concern about how long it might take after the election before the results are known.
"If it drags on for several weeks, if it ends up being a relatively close election, that could cause a lot of havoc in the markets," Frederick said. "Frankly, I think the markets would potentially sell off and we'd probably see a pretty sizeable spike in volatility."The current scenario can be compared to the year 2000 when the presidential election results between George Bush and Al Gore were contested.
"That's probably the closest comparison we can make and there's a very good possibility that we see that again," he said. Bank stocks as a sector have lost about 22% this year, compared with a 25% gain in technology stocks, and a 17% rise in consumer discretionary stocks, such as Nike, Amazon and Target.
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spoiler alert: Joe Biden/Kamala Harris will win.
The markets aren't the economy and they aren't our republic. The markets fared fine when it took longer to know in years past. And the markets should be aware the election isn't over until all states certify their votes. The markets are disconnected from reality as is.
One positive from the renewed hopes for some of a Biden win is that the Oil price will continue to dive hopefully feeding thru to our domestic power bills
Oh no, not the markets.
Our democracy is more important than the stock market.
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Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »