According to Bank of America economists, stock markets are likely to decline by 20 percent during the US presidential election on November 3.
According to Bank of America, stock markets want to see a clear victory no matter who wins the November 3rd election, and could drop by up to 20 percent if the election is controversial.
BoFA economists, led by US economist Michelle Meyer and stock strategist Savita Subramanian, said in a research note, “ While the overwhelming victory of Trump or Biden and a swift election will be welcomed by the markets, a seriously controversial election is a ‘risk-off’ in the markets. mode and will significantly reduce 10-year rates. ” expressions were used.
According to bank economists, if one of the parties refuses to accept the election results, the declines will be sharper. Economists predict that if the Republicans achieve a clear election result, it will initially be positive, and if the Democrats achieve a clear election victory, it will be treated neutral.
A sharp drop in the stock markets can cause Bitcoin to pull back. However, it should be noted that since October 12, the US stock market indexes have declined by 5 to 6 percent, while Bitcoin has increased by about 16 percent. In the last 18 days, the leading cryptocurrency has grown from $ 11,167 to $ 13,720, and gold outperformed the US dollar with stocks.
On the other hand, the big crash in March is on everyone’s mind.
Bitcoin is being traded at 13 thousand 720 dollars as of 11.20 TSI.