Some Wall Street analysts are saying that Elizabeth Warren's recent surge in the polls is hurting stocks.
are both down 4% this month, while the S&P 500 is off by more than 2%.
Barclays health care services analyst Steve Valiquette noted that his sector has seen "political uncertainty associated with Elizabeth Warren's steady rise in the Democratic polls," and MoffettNathanson said that a "Warren presidency would heighten regulatory risks" for telecom names, before adding "but a Warren presidency would heighten regulatory risks for lots of industries.
Stocks have been caught in somewhat of a holding pattern as of late. After rising to new highs in July, geopolitical tensions and fears of a global economic slowdown weighed on markets. In September the Dow Jones Industrial Average and S&P 500 came within 1% of their prior all-time highs, but they didn't quite reach those record levels and have been moving lower since. The indices are now about 4% below their July highs.
"She is clearly portraying private equity managers as the axis of evil in the American economy...invectives from the Warren camp will no doubt be with us for at least the duration of the campaign," Kotowski wrote., which tracks the broader financial space, is currently trading 5% below its most recent July 26 high. The sector is coming off its first negative quarter in four, and is on pace for its fourth straight week of losses.
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