What’s happening now in the stock market is more than just a “correction in tech stocks.”- The Kobeissi Letter
The reality is that the market is pricing-in a major shift in the political landscape of the US.
This is post is not political, it’s objective. A change in the political landscape always comes with uncertainty; markets hate uncertainty.
Objectively, the market is in the process of pricing-in two years of political gridlock.
Could this change? Of course. But markets price-in the most probable outcome, and the odds now overwhelmingly favor the aforementioned scenario.
Tomorrow sets the stage for the next two years.