Stock market suffers sharp drop on news of Comey's Trump memo

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Stock market suffers sharp drop on news of Comey's Trump memo

Post by Ben Mothafuckin' Reilly on Wed May 17, 2017 10:01 pm

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 ended 373 points lower Wednesday -- about a 1.8% decline. It's the biggest drop since September.

A key measure of market volatility also spiked. The common "I word" 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.

Gold prices have popped over the past week too. The yellow metal often does well when investors are nervous. It's a classic flight to safety bet. The US dollar has also sunk recently against the euro and other currencies. And virtual currency Bitcoin has soared.

http://money.cnn.com/2017/05/17/investing/stocks-trump-comey/index.html?adkey=bn

Another pro in Trump's column is looking weak -- the idea that he's good for business. A negative jobs report could sink him and his party at this point.

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Re: Stock market suffers sharp drop on news of Comey's Trump memo

Post by Raggamuffin on Wed May 17, 2017 10:12 pm

Oh well, mine seem OK. Razz

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Re: Stock market suffers sharp drop on news of Comey's Trump memo

Post by Ben Mothafuckin' Reilly on Wed May 17, 2017 11:04 pm

So glad to hear that!

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