With Donald Trump catching up in some polls and scandals still plaguing both candidates, market anxiety will persist even after Election Day next week, Wilmington Trust's Anthony Roth said Wednesday.
"You're looking at pretty much a coin toss at this point," the chief investment officer told CNBC, "and the markets have not priced that in. The markets are starting to price that in."
Roth told "Squawk Box" that markets may even hold their breath until after the inauguration, especially in the case of a Trump win.
"I think you get significant anxiety until the inauguration and through the inauguration," Roth said. "But there's a lot more uncertainty with Trump."
Roth said that a Trump presidency could cause a 10 percent drop in equity markets as well as a downside in currency markets, among other effects.
However, Ed Keon, QMA managing director and portfolio manager, said markets don't look so bad going into the election.
"If you step back and look back at the fundamentals, which drive stock prices over the long run, they're actually getting better," Keon said on "Squawk Box." "The earnings season was really quite good. … Revenue was 2.5 percent, and that's including a big drop in energy."
Keon said a Fed interest rate increase in December could actually help the stock market, though he acknowledged that his firm is taking a careful approach to investing in coming months.
Roth agreed that a rate hike would help markets and open the door for economic stimulus. The key, both analysts contended, is to get past this chaotic election.