The fate of the stock markets rests on one last election outcome — a vote on Jan. 5 for Perdue’s Senate seat in Georgia, which decides the party that controls the upper chamber.
What does Biden mean for all those tech stocks investors love hoarding? Bad news first…
In July, Biden proposed a massive $2t budget to be spent over 4 years on clean energy sources. This will include:
A Republican Senate, which is in favor of fossil fuels, will look to prevent much of this from seeing the light of day.
On Sept 23, 2020, when Trump was asked whether he would commit to a peaceful transition of power, he refused to answer. So what does this mean? Well, if Trump loses, he could possibly challenge the results… This would bring the final decision to the Supreme Court.
How did we get here? With COVID still upon us, the US has turned to voting by mail for the US 2020 presidential elections. At the start of September, Trump argued that voting by mail will lead to voter fraud and skew the results.
Don’t wake me up when September ends. The market volatility will be far from over — try December. The S&P 500 is down over 8% from their Sept. 2 peak and stock markets are whipsawing up and down. Sorry to break it to you, but this may only be the beginning.
Tech stocks crashing? Stop panicking and pull yourself together. On Sep. 3 and 4, the stock market saw its biggest drop since March with the S&P 500 falling over 4%. The main culprit, tech stocks. The Nasdaq Composite, a major index representing tech stocks, dropped close to 10% over the 2 days while other sectors saw losses of 0-3%.