Coronavirus could cost Trump the election, Goldman Sachs warns

It was the stock market collapse in 2008 that cost Republicans control of both branches of the government that year.

A market meltdown. Surging recession fears. And a sudden spotlight on America’s health care system. Goldman Sachs is warning Wall Street that the coronavirus could cost President Donald Trump the election.

The potential political fallout from the coronavirus adds yet more uncertainty for investors trying to assess the impact of the fast-moving epidemic.

“If the coronavirus epidemic materially affects US economic growth it may increase the likelihood of Democratic victory in the 2020 election,” Goldman Sachs analysts led by Ben Snider wrote in a report published Wednesday night.

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