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Global elections and the markets: What to expect in 2024

More than 40 national elections are scheduled worldwide next year. Here’s what they could mean for your investments.


“PRESIDENTIAL ELECTIONS TYPICALLY GENERATE ONE THING that markets dislike: uncertainty,” says Chris Hyzy, Chief Investment Officer for Merrill and Bank of America Private Bank.

With national elections in some 40 countries around the world in 2024, the potential for market volatility is undeniable. “Together, those countries represent more than half of global GDP,” notes Joe Quinlan, head of CIO Market Strategy for the Chief Investment Office, Merrill and Bank of America Private Bank. Among them — in addition to the U.S. — are Taiwan, India, Indonesia and Mexico. In the video above, Hyzy and Quinlan look at potential geopolitical risks and the market sectors and trends that could be affected.


For a deeper dive, read Quinlan’s “Elections 2024: A pivotal year in the U.S. and around the world” in the November 13 Capital Market Outlook. And be sure to tune in to our Outlook 2024 webcast, “Looking toward a new era of growth,” on December 14 for more insights on the forces that could shape the markets and economy in the coming year.

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