Signs are starting to emerge that the stock market is getting a little worried about how a president Joe Biden would impact corporate profits and by extension the valuations on equities.
“I think it’s [the election] starting to matter a little bit more to daily market performance. I would say really over the past few weeks as we’ve seen the betting odds increase of a Democratic sweep. So we’ve started to hear more discussions around what that means for corporate taxes and as a result, how we should be thinking about our earnings expectations further out. I think there’s also a thought around sector implications. Could we see slightly higher regulation for certain sectors in a Democratic sweep?,” explained JPMorgan Asset Management global market strategist Gabriella Santos on Yahoo Finance’s The First Trade.
The former vice president is currently ahead of President Trump in the presidential race by a whopping