President Donald Trump said he wants to ban large, institutional investors from buying single-family homes, arguing corporations are pricing everyday buyers out of the housing market and forcing more families into renting.

The president said he wanted Congress to stop the purchases by big investors, which have driven up rents and set obstacles for first-time buyers in some markets.

Traders are betting on turmoil ahead of Friday’s ruling, but a Wall Street legend is floating a different idea.

Asian shares have mostly advanced after mixed moves on Wall Street, where President Donald Trump's talk of raising defense spending spurred a rally in military-related shares

On Wednesday, Trump wrote in a social media post that he would ban large institutional investors from buying single-family homes, a missive that sent the shares of Wall Street money managers and other real estate firms plunging.