John Grace returns… Emerging markets have had their own impeachment episodes in the likes of South Korea, South Africa and Brazil. Amid mounting talk of the potential impeachment of U.S. President Donald Trump, one analyst said investors may want to look abroad to gain insight into the market implications of presidential impeachments. Craig Botham, senior emerging markets economist at U.K. asset manager Schroders, said one problem with studying how markets responded to a presidential impeachment was the lack of data, as the U.S. having seen only one successful impeachment out of four attempts. Wall Street could therefore supplement their research with case studies from emerging markets such as South Korea and Brazil, whose heads of state have been ousted in the past decade. Investors are in a tizzy over what impeachments have historically spelled for Wall Street, after House Democrats opened up an impeachment inquiry against U.S. President Donald Trump. A whistleblower complaint accused Trump of withholding military aid to the Ukraine to pressure it into investigating former Vice President Joe Biden and his son Hunter Biden’s dealings with Ukraine.
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