Stu Varney: 'People will start unloading stocks' if it looks like Biden will defeat Trump

Fox News ^ | July 20 2020 | Joshua Nelson

[knighthawk]

Fox Business Network host Stu Varney appeared on "Fox & Friends" Monday, saying that if presumptive Democratic presidential nominee Joe Biden wins the 2020 presidential election the stock market will “go straight down.”

“A major loss in the stock market if Joe Biden wins,” Varney said.

“If he looks like he’s going to win before November 3, people will start unloading their stock holdings.”

[cba123]

I agree.

100%.

[NonValueAdded]

Indeed. Harvest gains at current CG rates in anticipation of confiscatory tax hikes. Of course, if DJT wins it will soon up like a rocket. So what’s the hedging strategy?

[bert]

How ever, at present, the market is signaling that Trump and prosperity are most likely.

[NonValueAdded]

Soon = zoom

[DAC21]

Quite the dilemma for Silicone Valley. I want to see that creepy Indian Google CEO Sundar Pichai crying to the pin headed troops again like after Canklebeast lost in 2016.

[Delmarksman]

What will that do to the gold market?

[DAC21]

Ugh, “Silicon”

[Alberta's Child]

Varney isn’t necessarily correct here. Wall Street will do just fine with Biden in the White House. He’s a corrupt old asshole who is perfectly suited for the fascist/crony “capitalism” that is ingrained in corporate America.

[AppyPappy]

Keep in mind, Biden already had to drop out of one Presidential race due to scandal

[KevinB]

Wall Street will do just fine with Biden in the White House.

Yeah, the stock market will love higher taxes, the outlaw of fossil fuels and the absence of law and order.

[farming pharmer]

The stock market tanked the summer before Obama's first term.

History repeating itself.

[MattMusson]

Go back and look as the Stock Market Tumble when it became probable that the Democrats would win the Mid Terms.

[mowowie]

I’m going to be unloading my checking and bank accounts into a lock-box in my bedroom weeks before the election.
I own no stocks at the moment but i would sell NOW if i did then possibly reinvest after the first week in Nov.

[Catphish]

I think it depends on the state of the Senate. If the Democrats get everything and their capital gains tax schemes can go through then it is probably a good time to abandon ship. Biden wants 40% capital gains tax and some Democrats want to tax unrealized capital gains! Insane.

[PA-RIVER]

A repeat of 2008. Market in the toilet.

[BillyBonebrake]

Ugh, “Silicon”

Yes. Silicone Valley is 350 miles further south.

[Vermont Lt]

The gold market is still digesting the multi-trillion dollars in Covid money. As we spend more money we don’t have, gold will continue to rise.

[Freedom'sWorthIt]

So do I.

[RckyRaCoCo]

“It’s A BIG Club & You Ain’t In It!”