Democratic candidate for President Joe Biden shakes hands as he leaves after speaking at a campaign event on June 4, 2019 in Concord, NH.

It may be time for Wall Street to recalibrate expectations about the 2020 election.

In a survey of institutional investors this spring, more than 70% told RBC Capital Markets they expect President Donald Trump to win a second term in 2020. But a new national poll of voters Tuesday points toward a different outcome.

The Quinnipiac University poll showed the top Democratic candidate, former Vice President Joe Biden, leading Trump by a double-digit margin in a potential 2020 matchup. But it also found that five other Democratic contenders – every one the poll pitted against Trump – leading the president as well.

Biden, who plans to blast Trump in a speech Tuesday night as both politicians campaign in Iowa, held the largest lead, 53%-40%. He built it with decided advantages among women, independents, college-educated whites, nonwhites and young voters.

Yet self-described Democratic socialist Sen. Bernie Sanders of Vermont recorded an edge almost as large. He led Trump by 51%-42%.