Market is convinced Donald Trump will win US elections, Harris presidency would be bad for business, says billionaire Stan Druckenmiller
Donald Trump is coming back as the President of the United States, and the same can be observed in bank-based stocks as well as the crypto market.
Will the US markets affect the Presidential elections?
The US election 2024 is just a little more than a fortnight away, and this statement by Druckenmiller, is more like a bolster for the Republican camp, and a major alarm for Kamala Harris. There is always a trend that the markets begin responding a little prior to the outcomes of the elections, and this sudden swing in favor of Donald Trump from the US markets, may help in gaining some last-minute votes, or even the undecided ones.
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Druckenmiller is also of the opinion that it is quite unlikely for the Democrats to gain control of Congress even in the case Kamala Harris ended up emerging victorious in the US Presidential elections. He also claimed that the US equities could be in trouble in the case of a 'blue win' or sweep.
Meanwhile, the 'Trump trades' are behaving in a rather odd fashion in the last few days, supposedly based on the massive political uncertainty at this point. If Trump were to indeed emerge victorious in the US polls, these stocks have a chance of skyrocketing within a matter of hours.
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