Tags: 2020 Elections | stocks | cooperman | warren | dow

Report: Stock Market Finds New Foe in Elizabeth Warren

Report: Stock Market Finds New Foe in Elizabeth Warren

Democratic presidential candidate Sen. Elizabeth Warren, D-Mass. (Charlie Neibergall/AP)

By    |   Thursday, 07 November 2019 03:50 PM

Some of Wall Street’s biggest investors and market strategists for banks are expressing unease at the prospect of a presidential victory by Sen. Elizabeth Warren, D-Mass., CNBC is reporting.

This comes as the Dow Jones Industrial Average hit a record on Thursday, bringing its gain for the year to 18%.

According to CNBC, traders are convinced the market always needs a fear, or negative factors, to climb a wall of worry higher and keep ascending.

“With the trade war cooling down, the impeachment looking like a sitcom and recession fears subsiding, Elizabeth Warren is the new Wall of Worry,” Josh Brown, CEO of Ritholtz Wealth Management, tweeted on Thursday. “You’ll be hearing about her night and day on Wall Street. Every strategist will cite her nomination as a risk to watch for in 2020.”

Billionaire Paul Tudor Jones predicted the S&P 500 would lose about 25% if Warren wins the White House. And longtime investor Leon Cooperman claimed Warren is destroying the American dream.

CNBC said that Wall Street brokerages and market research firms have warned about the damage a Warren victory would do.

And the network noted that Warren recently said her tax proposal could be doubled to 6% on fortunes over $1 billion in an effort to pay for her “Medicare for All” plan.

She also plans to change tax rules for private equity firms, CNBC reported.

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Some of Wall Street's biggest investors and market strategists for banks are expressing unease at the prospect of a presidential victory by Sen. Elizabeth Warren, D-Mass., CNBC is reporting.
stocks, cooperman, warren, dow
229
2019-50-07
Thursday, 07 November 2019 03:50 PM
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