The U.S. election campaign has caused a lot of volatility on the stock market, and one financial analyst thinks that is unlikely to end immediately once the results come in.
Faisal Karmali, with the Popowich Karmali Advisory Group in Calgary, believes the markets will react more favorably to a Hillary Clinton win. But he told News Talk 770 that he’s concerned by the protectionist attitudes of both nominees, and the effect it could have on companies that trade with the U.S.
READ MORE: U.S. Election: America, on a knife’s edge
“My biggest concern with the Canadian market is those companies who are planning on doing more work via the NAFTA agreement might see a push back on their performance,” Karmali said.
His comments come a day after Craig Alexander, chief economist with the Conference Board of Canada, weighed in on the U.S. election, saying the markets would “prefer a Clinton win and a Republican Congress”.
Karmali told News Talk 770 that no matter who Americans elect, Donald Trump or Hillary Clinton, key decisions impacting Canada could be tied up indefinitely.
“We here in Alberta have seen what’s happened with the pipelines going down south. It doesn’t matter who the president is… because it depends if all three — congress, the senate and the president — agree.”
With files from Brenda Neufeld