The election of Democrat Joe Biden for President of the USA will bring down the markets, writes Fox Business, citing the current American leader is Donald trump.

"If he (Biden) elected, it will put pressure on the market, because the market will collapse, totally collapse… It will be a disaster," said trump.

The President said that increasing taxes for the rich will negatively affect the economy.

Earlier, Biden said that he would raise taxes for those whose annual income exceeds 400 thousand dollars.