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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsStocks Post Biggest Drop of Year as Trump Trade Stalls
Stocks Post Biggest Drop of Year as Trump Trade Stalls
Dow industrials, S&P 500 decline more than 1% for the first time since October as confidence in Trumps agenda wavers
U.S. stocks, the dollar and government-bond yields pulled back Tuesday, as major indexes notched their steepest declines of the year.
Bets that President Donald Trump would prioritize business-friendly policies led investors to pile into stocks and the U.S. dollar following the election while selling government bonds. But lately, some investors and analysts have expressed concerns that popular trades are getting overbought, making them vulnerable to a sharp pullback.
Many also say the prospect that House Republicans will be unable to gather the votes they need this week to dismantle the Affordable Care Act is adding to doubts that Mr. Trump will be able to push through tax cuts. That could put further pressure on stocks that have been trading near records and at historically high valuations.
People are nervous that if the health-care bill doesnt passand right now it doesnt look like it willwhat it means for other policies, said Ian Winer, head of equities trading at Wedbush Securities. People are in this market for the big tax overhaul. If they dont get health care done, taxes arent happening, and the longer you wait for tax reform the less exciting the market is.
The Dow Jones Industrial Average fell 238 points, or 1.1%, to 20668, posting its worst day since September. The S&P 500 fell 1.2% and the Nasdaq Composite lost 1.8%.
More: https://www.wsj.com/articles/buying-appetite-returns-to-global-markets-1490063629
Dow industrials, S&P 500 decline more than 1% for the first time since October as confidence in Trumps agenda wavers
U.S. stocks, the dollar and government-bond yields pulled back Tuesday, as major indexes notched their steepest declines of the year.
Bets that President Donald Trump would prioritize business-friendly policies led investors to pile into stocks and the U.S. dollar following the election while selling government bonds. But lately, some investors and analysts have expressed concerns that popular trades are getting overbought, making them vulnerable to a sharp pullback.
Many also say the prospect that House Republicans will be unable to gather the votes they need this week to dismantle the Affordable Care Act is adding to doubts that Mr. Trump will be able to push through tax cuts. That could put further pressure on stocks that have been trading near records and at historically high valuations.
People are nervous that if the health-care bill doesnt passand right now it doesnt look like it willwhat it means for other policies, said Ian Winer, head of equities trading at Wedbush Securities. People are in this market for the big tax overhaul. If they dont get health care done, taxes arent happening, and the longer you wait for tax reform the less exciting the market is.
The Dow Jones Industrial Average fell 238 points, or 1.1%, to 20668, posting its worst day since September. The S&P 500 fell 1.2% and the Nasdaq Composite lost 1.8%.
More: https://www.wsj.com/articles/buying-appetite-returns-to-global-markets-1490063629
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Stocks Post Biggest Drop of Year as Trump Trade Stalls (Original Post)
MelissaB
Mar 2017
OP
Angry Dragon
(36,693 posts)1. the slide starts down the slippery slope into the BOWELS OF HELL
marybourg
(12,637 posts)2. The light finally dawns? nt
SFnomad
(3,473 posts)3. I'm sure they'll find a way to blame this drop on President Obama n/t
gopiscrap
(23,765 posts)4. of course they will
Sanity Claws
(21,854 posts)5. Confidence in his agenda wavers?
Why isn't it confidence in the stability of the government wavers?
Frankly the whole explanation sounds pulled out of their ass.