First presidential debate sends ripples through stock market
InvestSMART’s Evan Lucas says a notable fall in the stock market following the first presidential debate between Donald Trump and Democratic nominee Joe Biden follows a general economic trend associated with an outgoing US leader. “If you look at the S&P all the way back to 1992, it has fallen when the incumbent has lost”. “Every time a changing administration is coming in, the market has fallen. “That’s probably what happened yesterday." Mr Lucas said the “the bookies very much moved out to the idea there is now a 58 per cent chance that Biden will win. The market picked up on that”. “The market is building to the idea there will be a change in administration and that a Biden win is likely to happen."
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InvestSMART’s Evan Lucas says a notable fall in the stock market following the first presidential debate between Donald Trump and Democratic nominee Joe Biden follows a general economic trend associated with an outgoing US leader. “If you look at the S&P all the way back to 1992, it has fallen when the incumbent has lost”. “Every time a changing administration is coming in, the market has fallen. “That’s probably what happened yesterday." Mr Lucas said the “the bookies very much moved out to the idea there is now a 58 per cent chance that Biden will win. The market picked up on that”. “The market is building to the idea there will be a change in administration and that a Biden win is likely to happen."
View on YouTube
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