Wall Street Rebounds after Biden Withdraws from Presidential Race but It Could Introduce More Volatility into the Already Struggling Stock Market [Video]

Wall Street rebounded on Monday, paring some of the losses from last week as investors evaluated the chances of Republican nominee Donald Trump winning a second term in the upcoming November election following President Joe Biden’s withdrawal from the 2024 Presidential race.

Biden announced on Sunday that he was dropping out and endorsed Vice President Kamala Harris’s candidacy. According to the online betting site PredictIT, the odds of a Donald Trump victory dropped by 4 cents to 60 cents, while the chances of a Harris win increased by 12 cents to 39 cents. However, it needs to be seen how the Walls Street reacts over the next few trading sessions.

Stocks Rebound after Biden’s Withdrawal

Over the past 10 days, uncertainty has affected the economy and the markets. With President Biden’s surprising announcement on Sunday that he is withdrawing from the presidential race, this uncertainty is likely to grow.

Although it is difficult to measure …