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‘If there’s a probability or possibility that there could be a unified Democratic administration... then it’s highly likely that the tax cut of 2017 would be rolled back. Then you’re looking at... possibly even up to a 20% correction on the S&P.’
That’s Tim Moe, Goldman Sachs chief Asia-Pacific equity strategist, talking on Bloomberg about what could happen to the stock market if Democrats end up controlling both the Executive and Legislative branches of government in 2020.
The S&P 500 SPX, +0.56% currently sits at 3,110 after another positive close on Friday. A 20% haircut from here would bring the broad-market gauge all the way down below 2,500, a level not seen in almost a year.
And the election is just one of two major risks investors may have to grapple with in the coming year, according to Moe.
The other one, of course, is trade with China.
“The key point would be that the market... has rallied quite significantly on expectations of hope for a trade deal being done,” Moe explained. “Our sense is that the risk reward here is probably negatively skewed. In other words, if a trade deal is done, markets are probably flat to up modestly. But if something doesn’t happen, then I think there’s a bit of price appreciation to give back.”
originally posted by: TaninimLong
a reply to: LSU2018
Well, being the leader of a direct democracy, then, I'll crash the economy, following that logic.
originally posted by: TaninimLong
a reply to: LSU2018
Well, being the leader of a direct democracy, then, I'll crash the economy, following that logic.
originally posted by: TaninimLong
a reply to: LSU2018
Well, being the leader of a direct democracy, then, I'll crash the economy, following that logic.
They said Trump would destroy this country if he ran it like a business, another failed prediction by the left
originally posted by: tinner07
You base everything on the stock market? If I do not own stock,how does that affect me?
originally posted by: tinner07
They said Trump would destroy this country if he ran it like a business, another failed prediction by the left
He has, with his corrupt business policies...he has Not the country, just the republican party
originally posted by: tinner07
You base everything on the stock market? If I do not own stock,how does that affect me?
originally posted by: TaninimLong
a reply to: F2d5thCavv2
So, we need a new system. And that's something just one person cannot come up with. I only know that, like most of you, am the victim of poverty, the effect of the broken system.
originally posted by: TaninimLong
a reply to: LSU2018
Well, being the leader of a direct democracy, then, I'll crash the economy, following that logic.
Surely if we get smart people to design a whole new system which revolves around the idea of equality it will work, it's not like anyone has tried that and every time it resulted in mass suffering and sometimes the destruction of entire nations... yes it's a sure fire plan, lets abandon the system which has produced the most advanced nations on Earth so we can try some experimental stuff and hope it all works out wonderfully so we can live in a Utopia where all hatred and crime will disappear.