This year's presidential election is now the biggest worry among institutional equity investors. Even more than the recent coronavirus spike.
A new survey by RBC Capital Markets posed a simple question to investors: What keeps you up at night? Nearly three quarters say they're worried about the November election. Why? One concern is a potential tax hike should Former Vice President Joe Biden win.
“The question becomes who is the President that you feel like can deliver the most benefit to your personal economy. Trump has polled extremely high on how would you like to best handle the economy,” Derrick Kinney, a Certified Financial Educator, told KTRH.
Kinney says investors are often focused on the next three to six months ahead, which is why many are more concerned about November over COVID-19 and another potential shutdown. He says concerns could shift from the election back to COVID-19 if parts of the U.S. have to shut down again.