A Donald Trump win could spark an immediate sell-off of up to 5 percent for the S&P 500, according to analysts at Citi, who also warn on slower growth or even recession for the U.S.
A survey run in September by the U.S. investment bank showed Wall Street strongly believes Hillary Clinton is set to clinch victory in next week's vote but the poor performance of U.S. equity markets in the wake of last Friday's news of the latest FBI probe into the Democratic candidate's emails, shows concerns of a Trump win are mounting.
According to the latest note out from global equity strategists at Citi Friday, fears for stocks after a Trump victory are two-fold.
In the longer-term says the research team, "A Trump win risks slower growth or recession if trade is restricted and fiscal expansion plans curtailed. Uncertainty alone could hit the economy. Global growth will also be impacted if uncertainty rises, U.S. growth is hit and U.S. financial conditions tighten."