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Business Rundown: 2024 Race Shakeup Jolts The Markets
Manage episode 430206724 series 3330134
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Over the weekend, President Biden announced he would be dropping out of the 2024 race. He broke the news with a letter posted to social media, later endorsing his Vice President, Kamala Harris, for the nomination.
Following former President Trump’s assassination attempt and a strong RNC performance, many Wall Street investors had already begun to make investments, essentially betting on a second Trump presidency. This “Trump Trade” hinges on expectations of policies like tariffs, low interest rates, and tax cuts.
Co-anchor of The Big Money Show, Taylor Riggs, is joined by Chief Market Strategist at Slatestone Wealth, Kenny Polcari, to break down how the markets are reacting to the shakeup in the 2024 race, new elements of uncertainty for the Democrats, and the aftermath of Crowdstrike’s global IT outage.
Photo Credit: AP
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