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Is Wall Street finally getting ready to throw in the towel on President Trump? Perhaps.

Stocks fell sharply Wednesday following reports of a memo from former FBI Director James Comey that says Trump asked him to stop the investigation of former national security adviser Michael Flynn.

 

The Dow fell more than 325 points midday Wednesday -- about a 1.5% decline. A key measure of market volatility also spiked. It's a fairly big selloff but nowhere close to some of the bigger market drops that stocks experienced in the wake of the 2008 financial crisis.

It also comes just two days after both the S&P 500 and Nasdaq closed at record highs. Corporate earnings have been strong. Consumers remain confident as well.


And the Nasdaq has soared 12% -- largely due to strong earnings from five tech giants in the index that just so happen to be the most valuable companies in America -- Apple (AAPL, Tech30), Google owner Alphabet (GOOGL, Tech30), Microsoft (MSFT, Tech30), Amazon (AMZN, Tech30) and Facebook (FB, Tech30).

Still, there are some indications of investor unease about the situation in Washington. Banks were among the biggest losers Wednesday.

Shares of JPMorgan Chase (JPM) fell 4%. Goldman Sachs (GS) was down 5%. And Morgan Stanley (MS) and Bank of America (BAC) each nosedived more than 6%.

Investors had been betting that Trump would cut back on regulations against Wall Street firms put into place by President Obama. Those hopes may now be fading.

CNNMoney's Fear and Greed Index, which looks at seven gauges of market sentiment, slipped to Neutral mode Wednesday. It had been showing signs of Greed previously.

The VIX (VIX), a measure of market volatility that is one of the components of the Fear & Greed Index, spiked nearly 30% Wednesday.

The "I word" that is in the market lexicon -- inflation -- is now being replaced by whispers of impeachment.

"With a growing chorus of Democrats accusing Trump of obstructing justice and even calling for his impeachment, the Trump administration could come to an early season finale," wrote Lukman Otunuga, a research analyst with currency broker FXTM.

Кто-то еще надеется на этого дебила?

Date: 2017-05-19 06:02 pm (UTC)
lactoriacornuta: Edward Gory.Gentleman (Default)
From: [personal profile] lactoriacornuta
Is Wall Street finally getting ready to throw in the towel on President Trump? Perhaps.
::::::::::::

we can but hope.
;-)

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