Bracing for Bernie: Why Sanders could be a nightmare for Wall Street
Biden is calling for higher corporate taxes but has not rolled out a wealth tax like Sanders.
“I believe the market can live with Joe Biden because he’s accepted as more of a centrist,” said David Kotok, chairman and chief investment officer of Cumberland Advisors.
Wall Street could also live with other moderates still in the running, including billionaire Michael Bloomberg, former Indiana mayor Pete Buttigieg and Senator Amy Klobuchar.
If Sanders is the nightmare outcome, four more years of Trump is widely seen as the best outcome for the stock market and Wall Street.
“A second term of Trump is more low taxation, more deregulation and an indifference about trillion-dollar deficits,” said Kotok. “Markets like that. Whether the country likes it, once it’s fully digested, is another matter.”
But a Trump reelection also brings risks.
Read the full story at https://www.cnn.com/2020/02/03/business/bernie-sanders-wall-street-iowa/index.html.
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