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Thread: Dow Closes Down as Markets Lose Confidence in Trump

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    Dow Closes Down as Markets Lose Confidence in Trump

    The Dow Jones Industrial Average dropped by 372.82 points on Wednesday, bringing the giddy post-election rally of the past few months to a screeching halt as President Donald Trump battles for his political future in the face of calls for his impeachment. It's the first time since Trump's election that the market has turned its back on — or at least given the cold shoulder to — the commander in chief, and a clear indication of waning confidence in the president's ability to focus on fulfilling his key promises of tax reform, deregulation, and investment in infrastructure.


    The Dow closed at 20,606, with financials such as Goldman Sachs and Morgan Stanley absorbing the most losses. "This is clearly Washington-driven," Michael Shaoul, chairman and CEO of Marketfield Asset Management, told CNBC. "It's a lot like 1998-99, when the market had to deal with the [Monica] Lewinsky scandal."

    Seemingly unflappable until now, investors are clearly spooked that the heightened drama in Washington — including the revelation that Trump asked FBI Director James Comey to halt an investigation into former National Security Adviser Michael Flynn — will swallow up the passage of Trump's promised regulatory reforms and pro-growth agenda. The promise of corporate tax reform in particular was a key factor that propelled the stock market to record highs since Trump's victory in November.

    Stocks weren't the only metric impacted by the drama engulfing the White House. The dollar dropped back to pre-election levels; and the "fear" index — the CBOE Volatility Index, which measures the fragility of markets — soared by almost 40 percent on Wednesday, marking the largest gain in eight months.

    Dow Closes Down 372 Points as Markets Lose Confidence in Trump - NBC News
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    The markets are still well above their levels on Election Day.

    It never goes up, or down forever.

    The last six months have been very good for the stock markets.

    Today...not so much.

    Tomorrow...no one knows.
    Thanks from Southern Dad

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    Veteran Member Devil505's Avatar
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    Quote Originally Posted by Miller47 View Post
    The markets are still well above their levels on Election Day.

    It never goes up, or down forever.

    The last six months have been very good for the stock markets.

    Today...not so much.

    Tomorrow...no one knows.
    Trump and all conmen rely on easy marks like you.
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    Quote Originally Posted by Devil505 View Post
    Trump and all conmen rely on easy marks like you.
    I've made good gains in the past 6 months.

    You?
    Thanks from Southern Dad

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    Moderator HayJenn's Avatar
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    Quote Originally Posted by Miller47 View Post
    The markets are still well above their levels on Election Day.

    It never goes up, or down forever.

    The last six months have been very good for the stock markets.

    Today...not so much.

    Tomorrow...no one knows.
    I guess you just ignored this part?

    investors are clearly spooked that the heightened drama in Washington

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    Quote Originally Posted by HayJenn View Post
    I guess you just ignored this part?

    investors are clearly spooked that the heightened drama in Washington
    Investors get spooked by MANY things.

    They tend to get over it.

    Maybe soon, maybe not.
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    bounce back tomorrow.

  8. #8
    Moderator HayJenn's Avatar
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    Quote Originally Posted by Miller47 View Post
    Investors get spooked by MANY things.

    They tend to get over it.

    Maybe soon, maybe not.
    Well kind of odd don't you think that they went out of their way to make their displeasure of BLOTUS know?

    I have never see the market make any kind of comment like that regarding the current resident of the WH.

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    Quote Originally Posted by HayJenn View Post
    Well kind of odd don't you think that they went out of their way to make their displeasure of BLOTUS know?

    I have never see the market make any kind of comment like that regarding the current resident of the WH.
    Those kinds of comments are normal.

    People are paid to come up for a reason for market performance and sometimes there's a reason, sometimes not.

    Sometimes they seem like they just pull it out of their arse.

    But, this excuse today sounds right.

    Remember this: Tomorrow it could all change.

    THAT is the larger point.

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    Quote Originally Posted by HayJenn View Post
    I guess you just ignored this part?

    investors are clearly spooked that the heightened drama in Washington
    Or the real reason:


    Business
    May 11 2017, 11:37 am ET
    Stocks Take a Hit Amid Disastrous Retail and Tech Earnings

    by Lucy Bayly

    The Dow Jones could be headed for its biggest daily drop in four weeks, after weak tech and retail earnings took their toll on Wall Street.

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