Former President Trump’s guilty conviction in his New York hush money trial is making waves across the political sphere. But are these ripples strong enough to make it all the way to the equity market (^DJI,^GSPC, ^IXIC)?
Yardeni Research President of Ed Yardeni joins Catalysts to discuss whether Trump’s guilty verdict could impact markets: "I think we’ve seen over the years that the stock market handles political turmoil fairly well."
Yardeni explains that the effect of Trump’s conviction on the market has been "muted" since it does not change the fact that both Donald Trump and Joe Biden remain the frontrunners of the 2024 election.
He adds, "I don’t think the market needs to get all bent out of shape about this development. The market has lots of experience with the political craziness out of Washington D.C. and at the end of the day, the US economy has performed remarkably well through thick and thin." He encourages investors not to let their personal politics get in the way of their investment strategies and sees political crises as opportunities to buy low.
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