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Sep 30, 2020

What the debate means for the markets, according to Wall Street political analysts?

 

Thomas Franck


People watch the first presidential debate between U.S. President Donald J. Trump and Former U.S. Vice President Joe Biden, on September 29, 2020, in Hoboken, New Jersey, United States.

People watch the first presidential debate between U.S. President Donald J. Trump and Former U.S. Vice President Joe Biden, on September 29, 2020, in Hoboken, New Jersey, United States.

Tayfun Coskun | Anadolu Agency | Getty Images

(This story is only for CNBC Pro subscribers)

The raucous first presidential debate left many on Wall Street unnerved about President Donald Trump’s unwillingness to accept a loss in November and the prospect of a protracted court battle to settle a close election.

The Tuesday evening debate, the first of three scheduled between Trump and former Vice President Joe Biden, was riddled with interruptions and attacks.

I “disagree with notion that debate was a dumpster fire: by definition, dumpster fires are contained,” Cowen analyst Chris Krueger wrote in a note to clients titled “Crazy Train.”

“Further debates aren’t set in stone. Debate was too chaotic to do anything but reinforce both sides. People are exhausted; that was exhausting,” the analyst continued. “Trump did not lay out any vision or policy plan for a 2nd Term — other than declaring Biden a Trojan Horse for socialism.”

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