Joseph Grano: S&P 500 Down 20% If Trump Wins

Joseph Grano, former CEO of UBS PaineWebber and former Homeland Security chairman, forecasts the S&P 500 heading down 20 percent if Donald Trump becomes President of the United States.

BETTY LIU: When you say down 10 percent to 20 percent and mention the geopolitical risks, what is a political scenario in which you see the down 20 percent? Is there a candidate in the field you look at right now and say, "If that person wins, then we're seeing down 20 percent?

JOSEPH GRANO: I would say if Trump wins.

LIU: If Trump wins, that means S&P 500 down 20 percent?

GRANO: I would say so.

LIU: What worries you the most about his candidacy?

GRANO: Look, i know Donald, but I think--if he doesn't start acting more presidential and tone down the hyperbole and rhetoric, he may get the nomination, but I don't think he can win the presidency.