An Elizabeth Warren presidency would likely be tough on some sectors, but it might not hit stock markets as hard as feared, a Jefferies strategist suggested on Wednesday.
Warren, a Democratic presidential 2020 frontrunner, has bashed the rich — proposing a wealth tax — and lambasted the financial industry among other sectors. As the Massachussetts senator climbs in Democratic presidential polls, a growing pool of investors warn that her win would result in major losses for the U.S. stock market.
“In our industry … there’s a general perception that it would be a significant equity market correction, if she were to win,” said David Zervos, chief market strategist at Jefferies. “She…