{"id":22521,"date":"2024-07-22T18:04:07","date_gmt":"2024-07-22T18:04:07","guid":{"rendered":"https:\/\/sotnews.agency\/?p=22521"},"modified":"2024-07-22T18:26:52","modified_gmt":"2024-07-22T18:26:52","slug":"market-turbulence-looms-as-biden-steps-down-endorses-harris-for-2024-bid","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=22521","title":{"rendered":"Market Turbulence Looms as Biden Steps Down, Endorses Harris for 2024 Bid"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>1 Minute, 52 Second <\/div>\n\n <\/div>

News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https:\/\/newsghana.com.gh\/market-turbulence-looms-as-biden-steps-down-endorses-harris-for-2024-bid\/<\/p>\n

Financial markets are bracing for turbulence following US President Joe Biden\u2019s surprise announcement that he is ending his reelection campaign and endorsing Vice President Kamala Harris, according to the CEO and founder of a leading global financial advisory and asset management firm.<\/strong><\/p>\n

In an unprecedented move that has reshaped the 2024 election landscape, Biden stated in a written statement on Sunday that stepping down was \u201cin the best interest of my party and the country,\u201d citing the tumultuous period in US politics since his disastrous debate against Donald Trump in June. Biden has pledged to remain in office until January.<\/p>\n

The CEO of deVere Group noted, \u201cThis announcement introduces a new variable into the 2024 election equation, putting markets on edge. With Biden\u2019s withdrawal, the primary question for investors is whether to continue betting on the \u2018Trump Trade.’\u201d<\/p>\n

\u2018Trump Trade\u2019 refers to market behaviours during Trump\u2019s presidency, driven by looser fiscal policies, deregulation, higher tariffs, and infrastructure spending.<\/p>\n

\u201cThe impact of these policies included a rising dollar, higher bond yields, gains in sectors like banking, healthcare, energy, and industrials, and increased interest in Bitcoin,\u201d observed Nigel Green.<\/p>\n

\u201cAs Vice President Harris assumes prominence, markets face increased uncertainty. The immediate challenge for investors is assessing Harris\u2019s ability to consolidate party support, secure the Democratic nomination, and mount a robust campaign against Trump,\u201d Green added.<\/p>\n

\u201cIf Harris gains traction and poses a credible threat to Trump in polls, market volatility is expected to persist. Investors will closely monitor political developments, adjusting portfolios to hedge against risks,\u201d Green advised.<\/p>\n

The key for investors will be agility, diversifying portfolios to manage risks and seize opportunities amid ongoing volatility driven by political uncertainty.<\/p>\n

\u201cBiden\u2019s decision and Harris\u2019s entry have set the stage for a turbulent market. Whether Harris can mount a successful challenge against Trump will dictate the extent and duration of market volatility,\u201d Green concluded.<\/p>\n

News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https:\/\/newsghana.com.gh\/market-turbulence-looms-as-biden-steps-down-endorses-harris-for-2024-bid\/<\/p>

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News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https:\/\/newsghana.com.gh\/market-turbulence-looms-as-biden-steps-down-endorses-harris-for-2024-bid\/ Financial markets are bracing for turbulence following US President Joe Biden\u2019s surprise announcement that he is ending… <\/p>\n","protected":false},"author":1,"featured_media":22563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"yes","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-22521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/22521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22521"}],"version-history":[{"count":1,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/22521\/revisions"}],"predecessor-version":[{"id":22564,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/22521\/revisions\/22564"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/media\/22563"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}