A facebook display during the China International Import Expo (CIIE), at the National Exhibition and Convention Center in Shanghai, China, November 5, 2018.
Aly Song | Reuters
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The election is less than two weeks away, and Bank of America believes that if Biden wins the White House, and Democrats take both houses of Congress, large-cap technology names could come under pressure.
“We see a Democratic sweep as having the most uncertainty and tail risk for [the] large-cap internet sector,” the firm said in a note to clients Friday. Specifically, Bank of America pointed to increased regulation and higher taxes as policies that could eat into companies’ bottom line.
Originally published at CNBC