|Trump trade still breathing: including today's drop, all indices are higher since the election.|
AAPL, one of my holdings, is up nearly 30%.
After the election most of President Trump's policy proposals, e.g., health care, immigration, "the wall", and regulatory reform, had obstacles that made enactment problematic, but the "sure things" seemed to be tax reform and infrastructure spending, both of which had solid Republican, as well as some Democratic support. It's likely that much of the post-November 8th stock market boom was attributable to these two factors.
Today the breathless rat-tat-tat of accusations against the Administration finally took its toll on the market. WSJ: Investors Turn Sharply Pessimistic [bold added]
My hope is that today's appointment of a special counsel to investigate these Russia allegations will actually calm things down enough to get the bipartisan measures passed. It will be good for the country, and more importantly, good for my portfolio.
Dow Jones Industrial Average falls more than 370 points ICE U.S. Dollar Index erases postelection gains Safer assets rally, with 10-year Treasury yield falling to 2.216%
Turbulence in Washington jolted markets out of an extended period of calm Wednesday.
Stocks, the U.S. dollar and government-bond yields slid as investors pulled back from bets on the swift passage of President Donald Trump’s agenda. Wagers that his policies would boost growth and inflation have been unwinding for months, but those moves accelerated Wednesday.