I think we can all agree this has been the most dramatic election in modern history. And the drama that has dominated our lives for the past year continues even after the voting ended.
Normally one or two close state races decide who will become president. This time there are five states that will decide the winner. As of Friday morning, all have margins of 1.5% or less, and about 500,000 votes have yet to be counted.
If a state is within 1% a candidate can request a recount. Those can take up to two weeks to start. They usually take about a week to finish. In other words, even after a winner is declared, it might take another three weeks before we can know the results for certain.
Meanwhile, control of the Senate, and thus whether we have a divided or unified government, will hinge on the Georgia runoff on January 5th, 2021.
The outcome of the most important election in modern history, won’t be fully known until January 6th, or possibly even later.
All of this is taking place as the worst pandemic in over 100 years rages uncontrolled through most of America. What does the toxic combination of political uncertainty and an out-of-control pandemic mean for the economy, stock market, and your portfolio?