Democratic Presidential Candidate Joe Biden speaks at Beech Woods Recreation Center in Southfield, Michigan, on October 16, 2020.
Jim Watson | AFP | Getty Images
(CNBC PRO is looking at the most important investing angles surrounding the election. For the complete investor’s guide, see here.)
In the event of a Biden victory, some analysts worry his administration and a possible majority of blue legislators will enact a financial transactional tax, which could impact trading and the markets.
A financial transaction tax is a tax imposed on every financial security trade and Wall Street analysts are telling clients the result could impact trading volumes, exchanges and e-brokers.