Finance

Biden’s big lead in the polls could be partly behind market’s drop and may lead to more weakness

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Many Wall Street analysts are warning their clients that a Biden presidency will not be good for the stock market. The former Vice President and presumptive Democratic nominee has pledged to roll back President Donald Trump’s signature tax cut legislation, which has boosted corporate profits, and if there is a blue wave in November, Democrats will be able to enact major economic changes that may further affect the market in a negative way, investors fear.

Biden is ahead by 14 points in a major new poll from The New York Times and Siena College, garnering 50% of the vote compared with Trump’s 36%. 

This has led some to ask whether Biden’s jump in the polls is behind stocks’ recent…



Source cnbc.com

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