Stocks may start to follow the pattern of past close elections, falling as November approaches, Deutsche Bank says

Traders work on the floor of the New York Stock Exchange (NYSE) the morning after Donald Trump won a major upset in the presidential election on November 9, 2016 in New York City.
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With the 2020 elections three months away, Deutsche Bank is warning clients that stocks could be set for choppy trading, or even downside pressure, until there's a clear winner.

That's because the Trump vs. Biden showdown appears to be a close race despite recent polling data that puts the former vice president several percentage points ahead. 

Uncertainty about who will win, and which policies they will pursue, often leads investors to hedge their bets and purchase downside protection for potential volatility.