Goldman warns delayed election results this November similar to Bush-Gore could rock the market

Goldman Sachs is warning that the upcoming presidential election could see delayed results.

The firm recommends that clients hedge their market bets through December in anticipation of heightened volatility through November.Ron Adar | Echoes Wire | Barcroft Media via Getty Images; Mandel Ngan | AFP | Getty Images

Goldman Sachs Chief U.S. Equity Strategist David Kostin said that a number of factors could delay the results beyond November 3, including a rise in mail-in ballots as Covid-19 keeps people from voting in person. Kostin noted that traders in the options market seem to believe the next president might not be announced on Nov. 3. Looking at that market, he noted that implied volatility around the election is "extremely high compared with prior cycles." Some of this has to do with the ongoing impacts of the coronavirus, of course, but the especially high level of implied volatility directly before and after the election suggests that traders believe the outcome could be uncertain.

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