Investors get little clarity on key policy concerns
Wall Street remained on edge as a closely watched debate between Republican Donald Trump and Democratic Vice President Kamala Harris late Tuesday gave investors little clarity on key policy issues, even as betting markets swung in Harris’ favor after the event.
“Neither one of them made strong economic points, but overall Harris came out of this better than Trump,” said Eric Beyrich, portfolio manager, Sound Income Strategies, in Westchester, New York. “Markets really don’t want strident statements; they want clarity.” Still, some investors believe even a small shift in perceptions of the candidates could prove significant in a contest that could come down to tens of thousands of votes in a handful of states. The two candidates are effectively tied in the seven battleground states likely to decide the election, according to polling averages compiled by the New York Times.
Harris last month outlined plans to raise the corporate tax rate to 28% from 21%, a proposal that some on Wall Street believe could hurt corporate profits.
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