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The affects of Trump induced Slump visible in the Nasdaq market

Friday, May 19, 2017 15:51
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(Before It's News)

After the day closed on the lowest stocks ever in U.S. on Wednesday, the investors started with taking calculative steps to maintain a risk-off stance considering the political turmoil burning in deep to the U.S. Stock Market.

There were shocking records made recording the lowest reach of the stock market. While blue-chip Dow futures slumped 107 points, the S&P 500 futures lost 10 points this is 0.52% & 0.42% respectively. The biggest shocker came when the tech-heavy Nasdaq 100 futures fell 19 points counting to 0.34%.

For the DOW & S&P, this was the worst day ever since the last September as both of them experienced a complete wipe out of gains from all the major indices.

The bears were all set to continue the sell-off on Friday as well as soon as the news broke in that Michael Flynn and other advisers to Donald Trump Campaign were in constant contact with many Russian officials and other renowned names with ‘Kremlin ties’. The entire connection was recorded in 18 calls and emails for a period of more than seven months since the 2016 presidential race begun.

The last week was of tumultuous nature in the White House and this was the prime worry. President Trump is already facing allegations as it is feared that the President tried to interfere in a federal investigation and has shared some supremely confidential information with Russia’s foreign minister.

To investigate the case, the justice department has appointed former FBI director Robert Mueller as special counsel. The Justice Department fear that Russia had intervened in the Presidential elections in U.S.

All these controversies have worked as fuel to the fire of speculations that Trump would follow through on the promises he made during his presidential campaign. This includes tax cuts, Deregulation & fiscal stimulus underpinning the equity market and the US Dollar.

After seeing the worst every situation on Wednesday against Yen & Euro, Dollar finally maintained to overcome amid all the sell-off. Dollar faced some the worst lifetime low because of the Trump Presidency controversy.

The market was deeply affected with all the strings of controversies. The effect was visible almost everywhere as the investors had deep concerns about the speculation of an inquiry of President Trump’s ties with Russian delegates.

The effect could be seen in Asian indices as well with Japan Nikkei & China’s Shanghai Composite is the worst affected. The effects were also noticed in Europe, Germany & London’s indices.

In another update, Jeremy Siegel who is a prominent stock-market bull said that if President Trump resigns DOW will face severing consequences. It can be a 1000 point spike in the market.

“If Donald Trump resigned tomorrow, I think the Dow would go up 1,000 points,” Jeremy Siegel, the University of Pennsylvania Wharton School of Business professor said in an interview with a leading media house.

“One has to remember that the rally since Trump’s election has been based not on Trump’s agenda [but] on the Republican agenda. I would say that 90% of the people, investors on Wall Street, and most of the CEOs, would prefer a President Michael Pence, rather than Donald Trump,” Siegel said.

“So, in a way you know what kinda trouble he’d be, might he have to resign, might he be impeached… all that does not derail the Republican agenda, upon which this rally was based,” he added.

The market is soaring and at such a time most of the bulls are failing in decision making. However, using a Forex Trading VPS could be of little help.

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