NEW YORK (TheStreet) -- If Republican presidential candidate Donald Trump beats out Democratic candidate Hillary Clinton in the November election, then markets will have to brace themselves for "uncertainty," Cowen Washington Research Strategist Chris Krueger said on CNBC's "Squawk on the Street" Monday morning.
"Well the market doesn't like uncertainty. With Trump that is what you get almost by definition," he said.
The "anxiety" caused by a Trump presidency has to due with his view on tariffs, Krueger said. Trump wants to impose a 45% tariff on Chinese imports - and he can do that on day one, he noted.
"That's not even sort of a grey issue. That's a very black and white sort of chapter and verse," Krueger said of Trump's take on tariffs.
If Trump wins, we will have a Republican House and Senate that could "unlock tax reform" and other issues, he noted.
"With Trump it's just sort of this unknown quantity that you know generally speaking investors don't favor the uncertainty," Krueger said.
After the bitter second presidential debate between the two candidates last night, Clitnon's probability of winning the election rose to 80%, in Krueger's opinion.
However, Trump managed to "temporarily stop the bleeding" last night from a 2005 recording released on Friday of him making vulgar comments about women, first reported by the Washington Post.