Why Should Investors Care About Missouri Senate Race?

Todd Akin might have destroyed his chances in the Missouri Senate Race after he said “legitimate rape” was unlikely to cause pregnancy in victims.

The Republican presidential ticket has disavowed Akin.

“Governor Romney and Congressman Ryan disagree with Mr. Akin’s statement,” the campaign said. “A Romney-Ryan administration would not oppose abortion in instances of rape.”

Akin’s opponent, Claire McCaskill, was initially seen as a vulnerable incumbent prior to his remarks, according to the Business Insider.

Akin’s collapse could hurt the Republican party because some strategists argue that Senate races might have more impact on economic policy than the presidency.

“The focus on the Presidency and its occupant often imbues a sense of ability upon the office that really isn’t accurate,” said BTIG strategist Dan Greenhaus. “This is true in the realm of foreign affairs but with regard to domestic policy, where attention currently lays, the President is handcuffed to a larger degree.  That is where the Senate comes in. Investors are fond of believing “divided government is good” because a divided government, as we’ve seen these last few years, gets little done. While less government action in good times is welcome, government inaction this time around is proving problematic.

So from an investor standpoint, while the President is enormously important in the current election given the disparity between the two visions, the implementation of that vision relies on the House and the Senate. In that regard, investors more inclined to a Romney Presidency than the alternative should be rooting every bit, if not more so, for Senate Majority Leader McConnell rather than Reid.”

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