Jim Cramer: Be Ready for a Contested Election
Worries about a contested election followed an acrimonious debate between President Donald Trump and Democratic candidate Joe Biden, but those worries were overshadowed on Wall Street after Treasury Secretary Steven Mnuchin and Speaker of the House Nancy Pelosi agreed to meet later Wednesday afternoon to discuss a stimulus package.
During the debate--which turned into a shouting match between the president and former vice president in what was referred to as a dumpster fire--Trump escalated his efforts to undermine public confidence in the election, saying at one point the election was already "rigged" despite no evidence of that.
“This is going to be a fraud like you’ve never seen,” Trump said Tuesday night in Cleveland. “We might not know for months because these ballots are going to be all over.”
He also said he would ask the Supreme Court to "look at” the ballots cast in November.
And Biden said that Trump had no plan and pointed to the number of Americans who have died since the pandemic reached the U.S. Discussing Trump’s approach to the pandemic, Biden said, “he either panicked or looked at the stock market.”
Biden, at one point, snapped and said, "Will you shut up man?" to President Trump.
So, what was Jim Cramer's takeaway for investors?
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