The 2024 US presidential election is shaping up to be a highly contested battle between Kamala Harris and Donald Trump. Recently, data scientist Thomas Miller revised his forecast, predicting a Trump landslide with 345 electoral votes. This prediction, based on betting odds, has sparked discussions about market biases favoring Republicans.
The election landscape shifted dramatically when Joe Biden endorsed Harris, intensifying her race against Trump. Despite Harris holding a slight lead in national polls, experts caution that these numbers are fluid and can change as the election nears, particularly in swing states.
Market reactions to the election outcome are anticipated to be significant. A Trump victory might buoy stocks due to his proposed corporate tax cuts, while Harris’s plans to raise taxes could weigh on the markets. Additionally, Trump's stance on trade tariffs poses potential risks to global economies, notably impacting German exports.
The cryptocurrency market could see a boost under Trump, who has spoken favorably about digital currencies. Meanwhile, gold prices are projected to rise, serving as a hedge against fiscal uncertainty. With the election date approaching, both financial markets and political landscapes remain in flux, underscoring the high stakes of this pivotal election.
