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Will Joe Biden Crash the Stock Market?
November 7, 2020, was an interesting day. If you’re like many, you woke up to the surprise that the Associated Press called the election in favor of Joe Biden. I know I was shocked. And, the first question I was wondered about, was, “How will the stock markets react on Monday?” I also thought, “How do democrats vs. republicans fare on the stock market”.
We say, “History repeats itself”, and at the same time when making investment decisions, we look often look to the past. Those who have been investing for a while call it “intuition”. If last week was any indication, wall street investors approved Joe Biden as President. You can see that by the weekly gain of the Dow Jones Industrial Index. The Dow Jones started at 26,691.28 on November 2, 2020 (9:30 am EST) and closed up, and 28,323.40 on Friday, November 8, 2020 (5:07 pm EST), representing a gain of 6.19% — one of the best weeks since April, 2020.
How will the markets react to a Democratic President?
Many say that presidents don’t have any effect on the stock market. However, President Trump has repeatedly taken credit when the stock markets rise. So, I wondered, what could…
