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Now, let's dig in! Image Source: CNBC The stock market suffered losses during the first trading day of the year, as investors grappled with the possibility of a Democratic sweep in the Senate and a continued surge in virus cases.
"It is thought by not just a few folks on Main Street as well as on Wall Street that if tomorrow's run-off results in a sweep for the Democrats--providing them with control of the Senate as well as the House--that it would bode ill for business with the likelihood that corporate tax rates could rise substantially," said John Stoltzfus, who is the chief investment strategist for Oppenheimer.
He said such a situation could cause the S&P 500 to plummet as much as 10%.
Meanwhile, investors are also watching the virus continue to infect more people--over 20 million in this country alone.
Other Hot Market News... Want to see how an expert makes money in the markets? Recommended Link: (clicking will opt you in to Profit Pregame's free daily e-letter - privacy policy) This could kill buy and hold forever. Image Source: Reuters President Donald Trump has said on Twitter that he would attend a Washington D.C. protest this week as both chambers of Congress meet to certify the Electoral College results that would cement Joe Biden as the next President of the United States.
Trump has encouraged his followers on the social media platform to follow his lead.
The demonstration on January 6 coincides with the final step toward formalizing Biden's victory in the presidential race. During the joint session of Congress, several Republican senators and senators-elect will object to the results in an attempt to delay the certification process.
Meanwhile, protestors will take to the Washington Monument, the Freedom Plaza, and the Capitol to express their own objections. Violence has already erupted during earlier protests over the election results.
What else do you need to know about the events scheduled for Wednesday?
More Political Headlines
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