Trump claims a Joe Biden presidency would cause stock gains to 'disintegrate and disappear,' but JPMorgan says it could actually boost the market
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Trump attacked presidential hopeful Joe Biden on Monday morning, saying that stocks and 401ks would "disintegrate and disappear" under a Biden administration.
On Monday, Trump tweeted that if Biden wins the presidential election in November, stocks and 401ks would "disintegrate and disappear."The president claimed that Biden would usher in "massive tax hikes" that would make people "very poor, FAST!" Yet JPMorgan said in a note to clients on Monday that a Biden White House could be a boon to the market. The firm's analysts say it's not likely that the former vice president's economic strategy would cause the stock market to tank.GOLDMAN SACHS: Buy these 13 stocks that are poised to crush the market within the next 2 weeks as earnings season gets underway
With the economy still battered by the coronavirus pandemic, the investment bank projected that policies to speed up the recovery would likely anchor the first half of a Biden term.
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