By SIMON CONSTABLE
If President Joe Biden wins another term in the White House and both houses of Congress go to the Democrats, then that would likely be the worst possible outcome for U.S. stockholders, according to a new report.
“A Democratic sweep would likely be the most negative outcome for equity markets primarily due to a higher probability of higher corporate tax rates,” the research note from Swiss-based bank UBS states. Read more here.
Joe Biden: Gage Skidmore from Peoria, AZ, United States of America (source: Joe Biden); User:TDKR Chicago 101 (clipping) Donald Trump: Shealah Craighead (source: White House) Сombination: krassotkin, CC BY-SA 2.0, via Wikimedia Commons
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