Is Donald Trump Wall Street’s Brexit?
That’s the question market pros are nervously asking on the eve of the Republican National Convention.
Just as the polls got the Brexit vote wrong, Wall Street will have to make sure it doesn’t misread the presidential polls and start pricing in the wrong outcome, adds Greg Valliere, chief strategist at Horizon Investments.
“I think this is going to be a particularly difficult election to handicap,” says Valliere. “It is very risky for markets to rely on individual polls. There is potential for political instability in the U.S., and I do think that is a market factor.”