US President Donald Trump speaks to members of the media before boarding Marine One on the South Lawn of the White House in Washington, DC, on October 25. Trump’s unpredictability has been a main factor in market peaks and troughs. Photo: Bloomberg
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Why an Elizabeth Warren presidency worries markets more than Donald Trump’s trade war

  • Despite Trump’s erratic policymaking, investors have done well during his presidency. But uncertainties over a trade deal and Trump’s possible impeachment are a reminder that political risk will continue to unsettle markets whoever wins the election

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US President Donald Trump speaks to members of the media before boarding Marine One on the South Lawn of the White House in Washington, DC, on October 25. Trump’s unpredictability has been a main factor in market peaks and troughs. Photo: Bloomberg
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Nicholas Spiro

Nicholas Spiro

Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.