Review: Dow sheds 370 points; stocks close lower and wipe out monthly gains on Trump fears

Review: Dow sheds 370 points; stocks close lower and wipe out monthly gains on Trump fears

Wednesday was not a fun day for the US stock market. The Dow had its biggest single-day drop since last September. While I’m not a big fan of the Dow, it can at least give you a directional sense of what the markets have been doing. I recently wrote a couple of pieces on the “Trump Rally,” both putting it in its historical perspective, and looking at if it’s pushed market valuations to unsustainable levels (in short, good but not unprecedented, and no, respectively). One day does not undo the rally, but it does remind us that markets will be markets. That’s the thing about financial markets – you have to take the good with the bad. There’s no way of predicting what they’ll do next or avoiding the downside (in fact, I was planning to write this review on another article wondering why the markets have been so calm with everything that has been going on). There’s a whole lot that we don’t know about the political situation right now, but whatever your politics, it’s sure been eventful lately. A big part of what we don’t know is the effect everything will have on the real economy, which is what the stock […]

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Review: Dow sheds 370 points; stocks close lower and wipe out monthly gains on Trump fears

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