Congressional Democrats’ effort to impeach President Donald Trump is not impacting the stock market as the president claimed in a tweet, but it could if it begins to hurt his reelection chances, strategists say.
Stocks would be even harder hit if either Massachusetts Sen. Elizabeth Warren or Vermont Sen. Bernie Sanders were to take a serious lead in the Democratic field against a weakened Trump. Both are seen as having less market-friendly policies than former Vice President Joe Biden, who is now leading polls, or even Pete Buttigieg, mayor of South Bend, Indiana, now fourth behind Sanders and Warren.
On Thursday, the House of Representatives approved guidelines for the impeachment process. There was no Republican support for the bill, and it is widely believed that the House will ultimately vote to impeach Trump along party lines but the GOP-controlled Senate will not vote in favor of removing him from office.