If President-Elect Biden Shuts Down the US Economy, the Dow Would Drop Nearly 4,000 Points: Strategist
November 14, 2020
The last thing bullish post-election season investors want to see is a nationwide lockdown to control the resurgent coronavirus under President-elect Joe Biden.
"3,000 or 4,000 [Dow] points lower at least," veteran strategist David Nelson of Belpointe Asset Management told Yahoo Finance Live on the market reaction to a possible lockdown.
But that may be what investors are staring down the barrel of if COVID-19 infections and deaths continue to rise ahead of Biden assuming power in late January.
Influential COVID-19 adviser to president-elect Joe Biden Dr. Michael Osterholm told Yahoo Finance Live a four- to six-week national lockdown would be appropriate to get the pandemic under control. Osterholm contends the U.S. has a "big pool of money" to pay for lost household wages from any lockdown. The payments to households would continue as a vaccine for the deadly disease is rolled out across the country.
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