As the US presidential election nears, Wall Street is bracing itself for potential economic changes under either Donald Trump or Vice President Kamala Harris’ leadership. However, a key concern among investors is what would happen if Elon Musk were to assume the presidency.
According to Piper Sandler, a top investment firm, if Musk’s budget cuts reached $2 trillion, several major companies could be impacted. These include Boeing, General Dynamics, and CVS Health. The news comes as some government spending has underperformed in recent times, raising questions about Trump’s economic policies.
A key focus for investors is how tax and trade policies might change, with potential implications for immigration. The election’s outcome will have significant market implications, but the question remains: what if Elon Musk takes the reins?
Source: https://www.bloomberg.com/news/articles/2024-11-04/musk-s-2-trillion-of-budget-cuts-would-have-these-stocks-moving