Investors brace for U.S. presidential election Na
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Investors brace for U.S. presidential election
Nation on Tuesday will choose between Obama and Romney
LOS ANGELES (MarketWatch) — Like the rest of the country, Wall Street will likely be on edge next week until it learns the outcome of Tuesday’s presidential election, one of the most closely fought contests in years.“Come next week, it’s going to be all elections, all the time,” said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank in San Francisco.
President Barack Obama and his Republican challenger Mitt Romney are each facing the possibility of a razor-thin margin of victory, which carries the risk that the outcome won’t be known Tuesday night, said Davidson.
From an investment standpoint, what cannot be promised is “that the coast is clear come Wednesday [and] that we’ll have certainty,” he said.
And what the stock market hates more than anything is the unknown.
“Give investors ‘good’ certainty or ‘bad’ certainty, but give them certainty,” Davidson said.
Most national polls show President Obama and Governor Romney in a dead heat. The latest average of national presidential-election polls from RealClearPolitics.com on Friday showed Obama was expected to receive 47.5% of votes, and Romney to win 47.2% of votes. http://www.marketwatch.com/story/investors-br...beforebell
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