Investors and business leaders are largely pessimistic about the stock market’s prospects under a Joe Biden administration, according to a new survey.
More than 100 chief investment officers and portfolio managers were surveyed by CNBC, and two-thirds of them said they expected stock market gains to be lower under a term of President-elect Joe Biden than President Donald Trump. Many of them fear Biden will undo President Trump’s 2017 tax cuts, which helped spur record profits and increased stock buybacks, according to CNBC.
Wall Street investors largely believe a Biden presidency could mean lower stock-market returns, according to a new CNBC survey.
— Yun Li (@YunLi626) December 28, 2020