A market meltdown. Surging recession fears. And a sudden spotlight on America's health care system. Goldman Sachs is warning Wall Street that the coronavirus could cost President Donald Trump the election.
It's no secret that a slowing economy can deal a fatal blow to the candidacy of a sitting president. That's what happened in 1992 when Bill Clinton unseated President George H.W. Bush.
"If the coronavirus epidemic materially affects US economic growth it may increase the likelihood of Democratic victory in the 2020 election," Goldman Sachs analysts led by Ben Snider wrote in a report published Wednesday night.