Wall Street's nightmare scenario could be playing out, in which one or both presidential candidates contest the results of Tuesday's election.
Speaking at the White House early Wednesday, President Donald Trump attacked legitimate vote-counting efforts, suggesting attempts to tally all ballots amounted to disenfranchising his supporters. He also prematurely declared victory, and baselessly claimed a fraud was being committed.
Former Vice President Joe Biden, however, urged patience.
CNN has not yet called several key races, including Arizona, Pennsylvania, Wisconsin and Michigan. In some places, it could take days to count all the votes.
"With Donald Trump clearly now pushing the case that this is going to be unfair, this is going to be challenged — that's just going to make markets anxious this could [take] weeks," ING chief international economist James Knightley told CNN Business.
The best historical parallel is the 2000 standoff between Al Gore and George W. Bush. The S&P 500 dropped nearly 12% between that election and the December 20 low, according to RBC.
https://news.google.com/__i/rss/rd/articles/CBMiYmh0dHBzOi8vd3d3LmNubi5jb20vYnVzaW5lc3MvbGl2ZS1uZXdzL3N0b2NrLW1hcmtldC1uZXdzLTExMDQyMC9oXzBmZDMzODk2ZGMyYjFkY2I5NDU5ZmI0ZjhkZmUwOTZl0gFOaHR0cHM6Ly9hbXAuY25uLmNvbS9jbm4vYnVzaW5lc3MvbGl2ZS1uZXdzL3N0b2NrLW1hcmtldC1uZXdzLTExMDQyMC9pbmRleC5odG1s?oc=5
2020-11-05 06:52:00Z
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