Goldman Sachs: US markets could see a 'significant correction' if Democrats sweep 2020 elections
Markets stateside could be in for a "significant correction" if the Democrats make a clean sweep in next year's elections in the U.S., according to Goldman Sachs' Timothy Moe.
A "unified Democratic result" where the party secures the presidency as well as both chambers of Congress would make the partial or full rescinding of tax cuts passed in 2017 "highly likely," said Timothy Moe, co-head of macro research in Asia at Goldman Sachs.earnings potentially by about 12% if you have a full of the tax cut," Moe told CNBC's "Squawk Box" on Friday. "That, in turn, could lead to a significant correction in the U.S. markets.
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