Business Rundown: 2024 Race Shakeup Jolts The Markets

The Fox News Rundown

FOX News Podcasts

News, Daily News, Politics

3.4 • 1.7K Ratings

🗓️ 22 July 2024

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

Over the weekend, President Biden announced he would be dropping out of the 2024 race. He broke the news with a letter posted to social media, later endorsing his Vice President, Kamala Harris, for the nomination. Following former President Trump’s assassination attempt and a strong RNC performance, many Wall Street investors had already begun to make investments, essentially betting on a second Trump presidency. This “Trump Trade” hinges on expectations of policies like tariffs, low interest rates, and tax cuts. Co-anchor of The Big Money Show, Taylor Riggs, is joined by Chief Market Strategist at Slatestone Wealth, Kenny Polcari, to break down how the markets are reacting to the shakeup in the 2024 race, new elements of uncertainty for the Democrats, and the aftermath of Crowdstrike’s global IT outage. Photo Credit: AP Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	It's time to take the quiz.
0:01.7	Five questions, five minutes a day, five days a week.
0:04.3	Take the quiz every weekday at the quiz dot fox and then listen to the quiz
0:08.5	podcast to find out how you did.
0:10.2	Clay, share, and of course listen to the quiz at the quiz.
0:13.7	I'm Taylor Riggs and this is the Fox Business Rundown.
0:18.3	Monday, July 22nd, 2024, I'm Taylor Riggs.
0:27.0	Sunday's stunning announcement, President Biden has withdrawn from the 2024 race, now Americans and the markets are reacting.
0:36.0	Today we wake up and there's certainty, right?
0:39.0	There's certainty that he's out.
0:41.0	He made that announcement yesterday. So that takes a layer of kind of angst out of the market and you can see the market actually responding. Over the weekend President Biden announced he would be dropping out of the 2024 race. The president had been
0:54.1	facing weeks of pressure from top Democrats to step aside after his
0:58.4	unsteady debate performance. On Sunday afternoon he broke the news with a letter posted to social media and he
1:05.2	later endorsed his vice president Kamla Harris for the nomination.
1:09.2	Before this news former President Trump had been extending on his lead in the polls.
1:14.7	Following his assassination attempt and a strong RNC performance, many Wall Street investors
1:20.0	began to make investments, essentially betting on a second Trump presidency.
1:25.9	This Trump trade, as it's being called, is factoring in policies like tariffs, low interest
1:31.3	rates, and tax cuts.
1:33.0	With a new 2024 presidential landscape ahead,
1:36.0	Americans may see a very different race in the months to come.
1:40.0	As Vice President Harris rallies the Democratic donors and hurries to earn support for the nomination,
	...

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