Turmoil over recent Trump controversies triggers the Dow's biggest losses since September
Source: The Washington Post
By Thomas Heath May 17 at 4:00 PM
The stock market on Wednesday took its biggest dive since before President Trumps election, as investors began to grapple with the increasing possibility that Washington would be consumed with chaos and fail to enact policies to boost the economy.
The Dow Jones industrial average lost 368 points, or 1.8 percent to 20,611, as a broad array of other indexes all lost ground. Meanwhile, a widely followed measure of volatility known as the VIX, which had been remarkably subdued in recent months, spiked by a dramatic 21 percent, suggesting sharply growing anxiety by investors about a sense of rising political risk in Washington.
The developments are a stark interruption to the slow-and-steady rise in in stock market values since before Trumps election. While the night of his surprise win in November created immediate uncertainty, with foreign markets selling off, they quickly regained their footing and resumed their years-long climb. Investors cited new hopes that a Washington unified by Republican control would deliver an overhaul of the tax system and a large increase in spending on U.S. infrastructure two of corporate Americas top policy goals.
The White House embraced the notion of a Trump Rally, and cited the gains as evidence of its immediate effect on the economy.
Read more: https://www.washingtonpost.com/business/economy/trump-controversies-rattle-stock-markets-worldwide/2017/05/17/3e564680-3b0d-11e7-8854-21f359183e8c_story.html?
mahatmakanejeeves
(57,621 posts)Achilleaze
(15,543 posts)* republican Draft-Dodger-in-Chief & originator of the TrumpSlump
keithbvadu2
(36,937 posts)MrScorpio
(73,631 posts)FDT
rpannier
(24,339 posts)When it goes up, people are buoyed by how il douche is making America Great Again
When it goes down, it's because people know America is becoming so much more great
When it doesn't change, it's because il douche is so great
It's simple really.
Kind of like, from 2009- Jan 2017, when it went up, it was panic over the Kenyan usurpers negligence. When it went down, it was because Obama hated America so much. When it stayed the same, it was because the country wasn't sure how bad things were going to get
Ask any il douche supporter