Report Suggests Kamala Harris Candidacy Could Shake the Stock Market

Experts Warn Kamala Harris Could Dent Stock Market

(ConservativeSense.com) – A new report has suggested that political uncertainty could have a tumultuous impact on the stock market thanks to President Joe Biden’s choice to withdraw from the 2024 race and Vice President Kamala Harris’s choice to seek the nomination. An unnamed financial adviser said, “I can’t see the market liking her. She’s not stable,” according to a New York Post piece by Charles Gasparino.

The report suggested that investors have been predicting Biden would abandon the race since 2023, but now that’s it’s actually happened and Harris has expressed her intent to run, the market is filled with uncertainty. Now that Harris is shoring up support to become the Democratic nominee, investors are trying to determine Harris’s chances of coming out on top. Of particular note is Trump’s pledge to lower business taxes, and with Harris polling just slightly below the former President, businesses are less confident about their taxation future.

The Vice President has reportedly been known in the past to describe herself as a “capitalist” who enjoyed positive relationships with big California companies in her home state. She receives donations from billionaire venture capitalists, including Reid Hoffman and Ron Conway. In 2014, as the Golden State’s Attorney General, Harris filed a lawsuit against eBay for anti-competitive practices.

Nevertheless, she has also clarified that environmental and climate considerations will feature in her financial decisions as President. In 2020, President Joe Biden praised Harris for her tough stance against oil companies, some of whom she successfully sued for pollution violations.

Vice President Harris also accused some of America’s biggest banks of “foreclosure misconduct” and settled a lawsuit with giants including JP Morgan Chase and Bank of America after they agreed to pay $18 billion to California in consumer relief. The banks had initially offered $4 billion, but Harris demanded more.

While she is largely considered friendly to big tech companies, Harris has previously questioned data handling and privacy. She sued Delta Airlines for privacy violations on its booking app. She also has a history of backing unions and calling for worker pay increases.

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