Yuge Correction: Mark Cuban Says A Trump Presidency Would Create Market Turmoil
Billionaire entrepreneur Marc Cuban was once a strong supporter of of Donald Trump... but now he isn't.
The Dallas Mavericks owner praised Trump for being "the best thing to happen to politics."
"Up until Trump announced his candidacy the conventional wisdom was that you had to be a professional politician in order to run," Cuban was quoted by Business Insider as saying on his Cyber Dust app. "You had to have a background that was politically scrubbed. In other words, smart people who didn't live perfect lives could never run. Smart people who didn't want their families put under the media spotlight wouldn't run. The Donald is changing all of that. He has changed the game and for that he deserves a lot of credit."
Trump even responded and thanked Cuban for his "nice words."
Speaking to CNN's Erin Burnnet on Monday, Cuban displayed a complete reversal in his stance.
"I can say with 100 percent certainty that there is a really good chance we could see a huge, huge correction," Cuban said when asked how the stock market could react to a Trump victory. Cuban blamed Trump's "flip-flopping" on major issues and "uncertainty" in his policies. He added that this is "the last thing Wall Street wants to hear."
Cuban suggested the stock market could see a selloff of more than 20 percent and effectively end a seven-year bull run.
Cuban also said he will "probably" vote for Hillary Clinton over Trump because "the devil you know is better than the devil you don't know."
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