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US Elections 2020: Markets to be nervous for a while, says Christopher Wood

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Markets are likely to be nervous for a while till a clear victor emerges in the US Presidential elections, but should be fine as long as there is more stimulus coming, Christopher Wood, Global Head of Equity Strategy at Jefferies said in an interview with CNBC-TV18.

Markets are likely to be nervous for a while till a clear victor emerges in the US Presidential elections, but should be fine as long as there is more stimulus coming, Christopher Wood, Global Head of Equity Strategy at Jefferies said in an interview with CNBC-TV18.
“Both Biden or Trump will do more stimulus but obviously this is a very contested election that will keep the markets nervous for a period,” he said.
He believes the rising cases in Europe and US followed by a sharp surge in death would upset the markets. “That is not happening. So long as that doesn’t happen and as long as the market thinks we are seeing more stimulus, market should be okay,” he said.
According to him, Donald Trump’s win would be viewed positively by the market. “Donald Trump is not going to lockdown the American economy whatever happens with COVID-19. If Biden wins, the markets will definitely believe there will be a lot more stimulus,” Wood said.
The most important thing for India is the course of the pandemic, he said. “When I last looked at the Indian data, it was encouraging in the sense that the cases were falling and the key thing in India is that there are no more lockdowns,” he said.
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